The Japanese government has earmarked a record high defense budget for next year, citing among its reasons the geopolitical situation on the Korean Peninsula.

Japan’s Kyodo News reports the increase is one-point-three percent from this year to five-point-two trillion yen.

Pending approval from the Japanese parliament, this defense budget plan marks a hike for a sixth year in a row.  It's also the third consecutive year Japan's defense budget has exceeded five trillion yen.

The incumbent Japanese government led by Prime Minister Shinzo Abe since December of 2012 has continuously called for a defense budget increase, citing growing security threats from North Korea’s nuclear and missile development and the expansion of China’s naval presence.  

[Photo : ]