Defense Ministry Wants Budget Over W40 Trillion

      June 18, 2015 11:59

      The Defense Ministry is asking for a 7.16-percent increase in its budget for next year, making it over W40 trillion for the first time (US$1=W1,120).

      The Defense Ministry on Wednesday said it asked the finance ministry for W40.14 trillion for next year, up from W37.456 trillion this year.

      It wants to spend W1.57 trillion on a preemptive defense against North Korea's nuclear weapons and missiles.

      Reflecting the government's policy to increase the birthrate, the ministry will give conscripts with children a childcare stipend of W200,000 a month.

      President Park Geun-hye has promised to double the pay of conscripts during her term, and the monthly pay of a corporal will rise to W178,000 next year.

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