Gov't to Boost Defense Spending Against N.Korean Missile Threat

  • By Choi Jong-seok

    August 30, 2017 12:51

    The government wants to increase next year's defense budget by 6.9 percent to W43.1 trillion (US$1=W1,127). This will be the biggest increase in defense spending since 2009.

    Of that amount, W13.5 trillion will be allocated to boosting South Korea's defenses against the North Korean missile and nuclear threat, up 10.5 percent from 2016.

    At the crux of the government's bolstered military spending are three defense platforms -- the "kill chain" preemptive strike system, the air and missile defense system, and the "punishment and retaliation" plan.

    The government has allocated W2.3 trillion for those systems, up from W2.1 trillion last year. Some of that will be spent on weapons like spy satellites, reconnaissance drones and long-range guided missiles.

    The budget will also reflect wage hikes for soldiers from an average of W216,000 to W406,000 for sergeants. 

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