Defense Ministry Calls For 6.9 Percent Budget Boost
July 01 2010
The South Korean Ministry of National Defense is seeking a 6.9 percent budget increase for 2011, reports the Korea Times.
The ministry said it needs US$25.9 billion to bolster the nation's defense posture against North Korea.
The draft budget includes US$17.8 billion, a 5.8 percent increase, in operational spending, including personnel wages, and US$8.2 billion (9.4 percent increase) for equipment modernization.
The proposed increase follows the sinking of a South Korean...
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