Monthly wages for military personnel attaining the rank of sergeant could increase to one million won beginning next year.

According to main opposition Democratic Party(DP) Rep. Min Hong-chul, who cited the defense ministry's wage increase plan, the monthly wage for sergeant-level service members is proposed to be raised from the current 676-thousand won to one million won in 2023.

The wage would further increase to one-point-25 million won in 2024, then to one-point-five million won in 2025.

Combined with the government's support grant, which will more than double to 300-thousand won in 2023, their monthly income could rise to one-point-three million won. The total is expected to exceed two million won by 2025.

This comes after President Yoon Suk Yeol pledged to increase monthly wages for the armed forces to two million won during his campaign.

The transition team earlier opted to raise the pay in phases due to a shortage in finances. The government will still have to seek ways to finance the wage increase, as the budget falls short of the 16-point-six trillion won required between this year and 2026.