South Korea's Ministry of National Defense to spend 242 billion U.S. dollars for its five-year defense plan
- 5 years ago
South Korea's defense ministry has unveiled its five-year defense and spending plan.... in which it plans to continue improving defense capabilities and preparing for the transfer of wartime operational control from the U.S.
Park Ji-won reports.
South Korea's Ministry of National Defense announced Friday that it plans to spend some 242 billion U.S. dollars on its five-year defense plan that applies from this year to 2023.
On average, it amounts to a seven-point-five percent increase in spending each year during the five-year period.
It's significantly higher than the average annual increase of less than five percent during the previous ten years.
The spending includes the cost for implementing the Moon administration's "Defense Reform 2.0,"... a comprehensive government scheme,... aiming to modernize the nation's defense structure to better counter ever evolving transnational and nonmilitary threats and challenges.
Under the plan,... about 84 billion dollars will go toward the development and improvement of defense capabilities,... which will increase on average,.. more than ten percent a year until 2023.
A substantial proportion will be directed to improving the nation's capability to counter threats from nuclear and other weapons of mass destruction,.. and preparing for the transfer of wartime operational control from the U.S. in the near future.
Acquiring military reconnaissance satellites, unmanned aerial vehicles, long-range air-to-surface missiles,... as well as developing the Korean Air and Missile Defense system,... are part of the strategy.
Research and development spending will also rise from this year's roughly seven percent of total annual defense spending to eight-point-five percent in year 2023.
Some one billion dollars will be spent on countering transnational and nonmilitary threats.
Regarding the cost for maintaining troops and military assets,... some 160 billion dollars will be spent,... which amounts to a nearly six percent annual increase on average.
Over four billion dollars will be used to apply the latest technologies of the fourth industrial revolution,... to make South Korea's military smarter, efficient and stronger.
Park Ji-won, Arirang News.
Park Ji-won reports.
South Korea's Ministry of National Defense announced Friday that it plans to spend some 242 billion U.S. dollars on its five-year defense plan that applies from this year to 2023.
On average, it amounts to a seven-point-five percent increase in spending each year during the five-year period.
It's significantly higher than the average annual increase of less than five percent during the previous ten years.
The spending includes the cost for implementing the Moon administration's "Defense Reform 2.0,"... a comprehensive government scheme,... aiming to modernize the nation's defense structure to better counter ever evolving transnational and nonmilitary threats and challenges.
Under the plan,... about 84 billion dollars will go toward the development and improvement of defense capabilities,... which will increase on average,.. more than ten percent a year until 2023.
A substantial proportion will be directed to improving the nation's capability to counter threats from nuclear and other weapons of mass destruction,.. and preparing for the transfer of wartime operational control from the U.S. in the near future.
Acquiring military reconnaissance satellites, unmanned aerial vehicles, long-range air-to-surface missiles,... as well as developing the Korean Air and Missile Defense system,... are part of the strategy.
Research and development spending will also rise from this year's roughly seven percent of total annual defense spending to eight-point-five percent in year 2023.
Some one billion dollars will be spent on countering transnational and nonmilitary threats.
Regarding the cost for maintaining troops and military assets,... some 160 billion dollars will be spent,... which amounts to a nearly six percent annual increase on average.
Over four billion dollars will be used to apply the latest technologies of the fourth industrial revolution,... to make South Korea's military smarter, efficient and stronger.
Park Ji-won, Arirang News.