Wednesday, June 30, 2010

Sharp increase in South Korean defense budget

South Korea's Defense Ministry is seeking a sharp increase in next year's budget to improve its fighting capability due to tensions over the deadly sinking of the warship Cheonan, blamed on North Korea.

Defense Ministry officials have agreed to request about 31.6 trillion won ($25.8 billion) next year to introduce new weapons and improve military hardware and welfare facilities for troops, a ministry official said on condition of anonymity, citing department policy.

The amount would represent a 6.9 percent increase from the amount budgeted this year, which was a 3.6 percent increase from the year before, he added.


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