News
South Korea defense ministry seeks 9.9 percent increase
Stars and Stripes
July 11, 2006
SEOUL — South Korea’s Ministry of National Defense is seeking a 9.9 percent defense budget increase for 2007, ministry officials confirmed.
The proposal, submitted recently to the Ministry of Planning and Budget, seeks about $25 billion for next year, according to the ministry.
The extra money will go to modernization projects, troop pay increases and facility expansions, according to local news reports.
About 28 percent of the budget will be used to build up military capacity, up from about 26 percent this year.