S. Korea to Increase Missile Defense Spending in Next 5 Years
The South Korean government is expected to review increasing its defense budget for missile development in the next five years.
Seoul's Defense Ministry spokesperson confirmed reports on Tuesday, that the military is planning to increase spending on missile defense capabilities to counter threats from North Korea.
His comments come on the heels of media reports that South Korean Defense Minister Kim Kwan-jin requested around 5-hundred billion won or roughly 4-hundred-30 million U.S. dollars per year for missile development during an annual finance meeting held last month.
However the defense ministry spokesperson refused to confirm details or specify the final amount to be allocated to the project.
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