South Korea's military will step up its reconnaissance and surveillance capabilities to better defend against North Korean ballistic missile threats and prepare for the transfer of wartime operational control from the U.S.

It will also seek to develop an interceptor system similar to Israel's Iron Dome that can fend off North Korea's long-range artillery attacks.

The Defense Ministry on Monday unveiled a blueprint of mid-term defense plans for the period of 2021 to 2025 to this effect. Under the plan, a total of 300-point-seven trillion won will be invested over five years starting next year.

The country's defense budget which surpassed 50 trillion won this year will top 60 trillion in 2024 for annual growth of over six percent.

The funds will be used to sharply improve surveillance of the entire Korean Peninsula on a near real-time basis which will involve unmanned spy planes and military satellites.

The military will also work to advance systems to detect and intercept enemy missiles including the deployment of a Korean version of Israel's Iron Dome air defense system expected to be put into force as early as in the late 2020s.