Site Fwd: [Korea MND]Defense drew up budget for next year

Korea NMD Recent News No. 651

Defense drew up budget for next year
Date 2010-10-04

Sept. 29, 2010

As Korean government finalized its national budget for next year during a cabinet meeting on Sept. 28, it had submitted next year's defense budget proposal of 31.279 trillion won ($27.682 billion), a 5.8 percent increase from last year, to the National Assembly on Oct. 1.

"Defense budget for 2011 was made focusing on reinforcing key military capabilities to counter existing threats from North Korea after the Cheonan sinking [in March]," said a defense official who asked not to be named. "We have also considered boosting troops morale and improving working condition when compilating the budget."

The official said that ordinary operating expenditures for the Defense Ministry among overall next year's government budget proposal is 21.618 trillion won, a 5.7 percent surge compared to last year, and defense improvement expenses increased by 6.1 percent at 9.661 trillion won from last year.

In particular, budget worth 2.128 trillion won that will be used in maximizing existing combat capabilities and other budget to enhance measures coping with any infiltration and regional provocative activities are included in the defense budget proposal.