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| This photo shows the South Korea's national flag, center, flying at the defense ministry's headquarters in central Seoul, Jan. 31. Yonhap |
South Korea's defense ministry on Tuesday requested a 4.5 percent on-year increase in its budget for next year, with a focus on reinforcing capabilities to counter North Korea's nuclear and missile threats.
The defense ministry is seeking a budget of 59.49 trillion won ($45 billion) for next year, compared with this year's 57 trillion won. The government plans to submit the proposal to the National Assembly on Friday for approval.
Of the total, the ministry seeks to spend 17.8 trillion won for weapons acquisitions and other projects to bolster defense capabilities ― a 5.2 percent rise from the previous year ― while earmarking 41.79 trillion won for running military forces, up 4.2 percent on-year.
The proposed budget includes 7.16 trillion won to bolster the country's "three-axis" system that consists of the Kill Chain preemptive strike platform; the Korea Massive Punishment and Retaliation program; and the Korea Air and Missile Defense system (KAMD).
It features a plan to spend 3.3 trillion won on 24 Kill Chain projects, which includes efforts to acquire KSS-III Batch-II submarines and more F-35A stealth fighter jets.
The ministry also seeks a budget of 1.57 trillion won for 11 KAMD projects, such as performance upgrades to its Patriot missile defense system, as well as 1.54 trillion won in support assets for the three-pronged system, including the country's project to acquire military reconnaissance satellites.
The overall proposal also includes a scheme to raise monthly wages for enlisted troops. Under the scheme, the monthly pay for a sergeant, which currently stands at 1 million won, is set to increase to 1.25 million won next year.
"In order to prepare our military against security uncertainties and asymmetric threats, such as North Korean nuclear and missile (weapons) ... (we) will actively consult with the National Assembly and other relevant agencies," the ministry said in a release. (Yonhap)
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