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Seoul announces major defence boost in 2020-24 plans

15th August 2019 - 11:47 GMT | by Gordon Arthur in Hong Kong


The South Korean Ministry of National Defense's (MND) latest Defense Mid-Term Plan covering the five-year period from 2020-24 foresees an ambitious increase in spending. 

The roadmap emphasises the application and leverage of technology to achieve all-round security, and will require challenging annual budget increases of 7.1% to achieve. 

The plan, announced on 14 August, envisages spending of KRW290.5 trillion ($239.9 billion), which represents a growth of 7% compared to the preceding 2019-23 plan. 

The MND stated: ‘The ministry has decided to concentrate on enhancing defence capabilities to make leading responses to security threats from all directions possible, as well as

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Gordon Arthur


Gordon Arthur

Gordon Arthur was the Asia Pacific editor for Shephard Media. Born in Scotland and educated …

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