(LEAD) Defense ministry demands 5.3-pct increase in defense budget for 2017
(ATTN: UPDATES with more details in para 4-5)
SEOUL, June 10 (Yonhap) -- The Ministry of National Defense has demanded a 5.3 percent on-year increase in its defense budget for 2017 as it plans to accelerate efforts to bolster the welfare of military conscripts and build up the country's air defense system, the ministry said Friday.
The ministry has submitted its defense budget demand to the Ministry of Strategy and Finance, requesting a budget of 40.87 trillion won (US$35.18 billion) for next year, according to a statement. The defense budget for this year stands at 38.8 trillion won.
The budget increase reflects welfare plans to hike the salary of military conscripts by 10 percent and to expand psychological counseling services for the conscripts, the statement said.
Under the wage hike plan, the average monthly salary of an Army corporal will be pushed up to 195,800 won next year, up 10 percent from this year and doubling from its corresponding figure in 2012, according to the defense ministry.
The 2017 budget plan also includes a fund of 1.6 trillion won to be spent in the on-going long-haul drive to build an indigenous air defense system. The Korean Air and Missile Defense and Kill Chain, which aims to be complete by the mid-2020's, is part of a broader plan to regain Seoul's wartime operational control of its troops from Washington.
The money being requested for the air defense system marks an increase of 4.8 percent from the corresponding budget for this year.
With an increased annual budget, the ministry also plans to further fortify military camps on South Korean islands near the maritime border with North Korea in the Yellow Sea.
Following coordination with the finance ministry, the budget plan will be submitted to the National Assembly for final approval in the latter half of the year, it added.
pbr@yna.co.kr
(END)
-
(Yonhap Interview) Fintech startup AIM aims to bring professional wealth services to ordinary investors
-
N.K. leader declares victory in fight against COVID-19: state media
-
N. Korea appears to release border dam water without prior notice: official
-
7 dead, 6 missing in heaviest rainfall in 80 years
-
(2nd LD) 7 dead, 6 missing in heaviest rainfall in 80 years
-
(Yonhap Interview) Fintech startup AIM aims to bring professional wealth services to ordinary investors
-
7 dead, 6 missing in heaviest rainfall in 80 years
-
(5th LD) 8 dead, 7 missing in record rainfall in Seoul, surrounding areas
-
N. Korea appears to release border dam water without prior notice: official
-
(LEAD) 7 dead, 6 missing in heaviest rainfall in 80 years
-
(LEAD) Another person who disappeared into manhole amid downpours found dead
-
(LEAD) New COVID-19 cases down for 3rd day; deaths at over 3-month high
-
(LEAD) Suspended ruling party chief again cries foul over leadership switch
-
N. Korea moves toward pre-pandemic normalcy after declaring victory in COVID-19 fight
-
Heavy rain-caused deaths this week rise to 14; 5 go missing