South Korea to raise defense budget by 5.2% next year
South Korean companies
Seoul - Yonhap
South Korea said Thursday that its defense budget for 2015 will increase 5.2 percent from this year due mainly to spending to boost the military's defense capacity and propping up the safety and welfare of service personnel.
The defense ministry's budget for next year will amount to 37.6 trillion won (US$36 billion), compared with this year's 35.7 trillion won, according to the government's new budget plan approved by the Cabinet. It requires parliamentary endorsement.
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