Korea's defense ministry submits 2015 defense budget proposalUpdated: 2014-06-26 14:16:17 (KST)
Korea's Ministry of National Defense submitted a 2015 defense budget proposal to the finance ministry on Thursday.
The request comes to a little over 38 trillion won, or roughly 37.3 billion U.S. dollars, up 7-and-a-half percent from this year's budget.
The military plans to use 25.5 billion dollars of the total to maintain and enhance military fighting capabilities, while some 11.5 billion dollars would go toward defense development, including missile systems.
The military also aims to enhance life in the barracks for conscript soldier by increasing their salaries by up to 15 percent.
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