| News: Budget for Next Year's Military May Increase Sharply |
Next year뭩 budget for military augmentation projects may increase sharply to achieve a 밹ooperative self-defense,?that focuses on filling the security vacuum on the Korean peninsula that may result from a planned reduction of U.S. forces in Korea.
The Ministry of Defense submitted to the Ministry of Budget and Planning on Friday its ?005 Defense Budget Proposal,?which includes the introduction of an airborne reconnaissance system and an anti-missile-guided Patriot (SAM-X) system to ensure defense against missiles.
A Defense Ministry official said, 밫o realize cooperative self-defense by securing core military capacities in preparation for current or potential threats, we increased the proportion of investments in military power in the defense budget from 33.2 percent to 34.0 percent, up 0.8 percentage points.?According to the proposal, the total defense budget is W21.475 trillion, a 13.4 percent increase from this year뭩 budget.
Out of the budget, W7.3 trillion would be spent to fortify military power, up 16 percent from this year, and W14.175 trillion for ordinary maintenance expenses, up 12.1 percent from this year.
The budget accounts for 2.9 percent of the GDP, up 0.1 percent from this year, but the percentage is expected to increase to more than 3.0 percent when an expense proposal for the transfer of the Yongsan Garrison and reduction of U.S. troops is submitted to the National Assembly. The proposal is currently under negotiation.
(englishnews@chosun.com )
|
|
|
|
|
|
 |
| |
| Related Links | |
| Article Rating | |
Average Score: 4
Votes: 1
| | | | | Options | |
|
