South Korean defence budget set for boost
Alarmed by Kim Jong-un’s shenanigans across the border, Seoul announced on 29 August that it proposed to boost defence spending next year by 6.9% to a figure of KRW43.1 trillion ($38.4 billion).
This figure represents almost all the KRW43.7 trillion ($38.7 billion) that the MND had requested of the government in June.
However, the budget proposal first needs to be approved by the National Assembly before it takes effect. If it does get a green light, this would be the largest defence spending hike since 2009, when it jumped 7.1%.
Of utmost concern is North Korea’s ballistic missile and nuclear
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