S. Korea's defense ministry to spend US$ 242 bil. under five-year plan
- 5 years ago
강한안보, 책임국방 구현을 위한 19-23년 국방중기계획 발표
South Korea's defense ministry unveiled its latest spending plan.
The budget's going to grow faster over the next five years than it has in the past, in order to achieve stronger defense posture.
Park Ji-won outlines how the funds will be used.
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 are part of the strategy.
Ministry officials said this new strategic concept of "countering nuclear and other weapons of mass destruction" replaces the South Korean government's so-called "three-axis" system.
That was a three-pronged strategy to counter mainly North Korean threats,... using the Kill Chain pre-emptive strike system, the Korean Air and Missile Defense system... and the Korea Massive Punishment and Retaliation strategy.
The officials said the change in name does not mean the previous plan will be reduced.
Rather, it's being extended... in a way better suited to a longer vision of the nation's defense posture.
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.
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.
South Korea's defense ministry unveiled its latest spending plan.
The budget's going to grow faster over the next five years than it has in the past, in order to achieve stronger defense posture.
Park Ji-won outlines how the funds will be used.
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 are part of the strategy.
Ministry officials said this new strategic concept of "countering nuclear and other weapons of mass destruction" replaces the South Korean government's so-called "three-axis" system.
That was a three-pronged strategy to counter mainly North Korean threats,... using the Kill Chain pre-emptive strike system, the Korean Air and Missile Defense system... and the Korea Massive Punishment and Retaliation strategy.
The officials said the change in name does not mean the previous plan will be reduced.
Rather, it's being extended... in a way better suited to a longer vision of the nation's defense posture.
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.
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.