Korean Information Service, The Defense Ministry said Wednesday (July 18) that it has asked for a 9.9-percent increase in next year’s defense spending to cover military upgrades, development of new weapons, better maintenance of fighter jets, and improved benefits for soldiers.
Under the budget increase plan reported to President Roh Moo-hyun, the total defense budget will rise to 24.5 trillion won ($26.6 billion) in 2008, up 9.9 percent from a year earlier.
The spending for arms development or procurement will increase by 17.3 percent to 6.7 trillion won.
“Among new weapon acquisition projects to start in 2008 are the development of high-altitude unmanned aerial vehicles and the introduction of LST-II landing ships and the next-generation Thermal Observation Device,” a ministry spokesman said.
The draft budget is due to be submitted for approval to the National Assembly later this year, he added.
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