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S. Korea's 2021 defense budget to increase by 5.5% to US$ 43.7 bil.

2020-09-05 10 Dailymotion

내년 국방예산 52조9천억원…KF-X•차세대잠수함 등<br /><br />Seoul's defense ministry has made a proposal to the government for what would be the highest ever amount for a yearly national defense budget for 2021.<br />Our Kim Ji-yeon has the details.<br />Seoul's defense ministry has asked for a five-and-a-half-percent increase for next year's budget... which would amount to nearly 43-point-seven-billion U.S. dollars... the highest ever amount if approved.<br />"The government's proposal is aimed at strengthening not only South Korean military defense capabilities, but also at strengthening its competence against rising non-traditional security challenges... including infectious diseases and acts of terror."<br />The defense ministry says it will set aside some 14-point-three-billion dollars for arms purchases and projects to boost defense capabilities.<br />It will also earmark some 30-billion dollars for operational costs... the highest on-year growth in a decade of seven-point-one-percent.<br />In order to better deal with North Korea's nuclear program and weapons of mass destruction ... the ministry has allocated nearly four-point-nine-billion dollars.<br />Some 762-million dollars are annexed for the development of domestically produced fighter jets, the KF-X project... while nearly 442-million dollars are set aside for the development of a three-thousand-ton next-generation submarine.<br />A total of 80-point-seven-million dollars is being appropriated to better prepare for COVID-19 and other infectious diseases,... such as procuring face masks, medical equipment and setting up facilities for virtual meetings.<br />The ministry also plans to boost the welfare of service personnel... a vital part of its "Defense Reform 2-point-oh" scheme.<br />For instance, the monthly wage for rank-and-file service members is to increase 12-and-a-half percent next year from the previous year.<br />With the increase, an army sergeant, for example, will receive five-hundred-11 dollars a month starting next year.<br />Kim Ji-yeon, Arirang News.<br />

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