Yoon Suk-yeol seeks record defense budget to counter North Korean threats



News Yoon Suk-yeol seeks record defense budget to counter North Korean threats 4.6% increase in South Korean military spending comes despite administration’s belt-tightening policy Jeongmin Kim August 30, 2022 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON South Korea's supersonic cruise missile test in a photo released on Sept. 15, 2021 \| Image: ROK MND The Yoon administration will request a 4.6% increase to national defense spending for next year, raising South Korea’s defense budget to a record-high $42.4 billion (57.1 trillion won) as it seeks to counter North Korean threats. Seoul has secured increasingly larger defense spending for the past several years, including a 3.4% increase in 2021 — the final budget from the Moon Jae-in administration. The largest annual defense budget increase under Moon was 8.2% in 2019. The Yoon administration will request a 4.6% increase to national defense spending for next year, raising South Korea’s defense budget to a record-high $42.4 billion (57.1 trillion won) as it seeks to counter North Korean threats. Seoul has secured increasingly larger defense spending for the past several years, including a 3.4% increase in 2021 — the final budget from the Moon Jae-in administration. The largest annual defense budget increase under Moon was 8.2% in 2019. Become a member for less than $5.75 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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Yoon Suk-yeol seeks record defense budget to counter North Korean threats

4.6% increase in South Korean military spending comes despite administration’s belt-tightening policy

Jeongmin Kim August 30, 2022

Yoon Suk-yeol seeks record defense budget to counter North Korean threats

South Korea's supersonic cruise missile test in a photo released on Sept. 15, 2021 | Image: ROK MND

The Yoon administration will request a 4.6% increase to national defense spending for next year, raising South Korea’s defense budget to a record-high $42.4 billion (57.1 trillion won) as it seeks to counter North Korean threats.

Seoul has secured increasingly larger defense spending for the past several years, including a 3.4% increase in 2021 — the final budget from the Moon Jae-in administration. The largest annual defense budget increase under Moon was 8.2% in 2019.

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