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Veterans to see strong increase in benefits in 2018

All News 13:24 December 10, 2017

SEOUL, Dec. 10 (Yonhap) -- Veterans can expect substantially improved benefits next year, with the budget in this sector witnessing a larger gain than other areas, according to officials Sunday.

The government has earmarked 5.4 trillion won (US$4.93 billion) for veterans, up 11.2 percent from last year, according to the Ministry of Patriots and Veterans Affairs.

The rate is substantially higher than the average government budget hike of 7.1 percent. It also marks the first time that the budget for veterans surpassed the 5 trillion-won mark.

Veterans of the Korean War will see a 36.4 percent increase in their allowances, while the state coverage of hospital treatment costs for veterans will be raised to 90 percent compared with the current 60 percent.

Financial aid for individuals with meritorious status will go up by 5 percent, marking the biggest rate increase in eight years. Children of Korean War veterans will also see their allowances go up 5 percent.

"The budget hike shows the government's stance to acknowledge that the nation remembers and rewards those who sacrificed for their country," a ministry official said.


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