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2026-01-23
Defense Ministry Requests Budget Increase, Revives Guided Missile Project
Written: 2003-06-11 00:00:00 / Updated: 0000-00-00 00:00:00
The Defense Ministry is seeking 22.3 trillion won or some 19 billion U.S. dollars in defense budgeting for next year.
The budget is up more than 28 percent over last year and amounts to 3.2 percent of the gross domestic product. This year's defense budget roughly equals 2.7 percent.
Next year's budget includes spending for a project to purchase next generation guided missile systems.
The Ministry of Planning and Budget is reviewing the Defense Ministry's request.
The budget is up more than 28 percent over last year and amounts to 3.2 percent of the gross domestic product. This year's defense budget roughly equals 2.7 percent.
Next year's budget includes spending for a project to purchase next generation guided missile systems.
The Ministry of Planning and Budget is reviewing the Defense Ministry's request.
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