ID :
82083
Mon, 09/28/2009 - 10:05
Auther :
Shortlink :
https://www.oananews.org//node/82083
The shortlink copeid
S. Korea pulls back from original defense spending plan amid economic woes
By Sam Kim
SEOUL, Sept. 28 (Yonhap) -- South Korea's defense ministry said Monday it has slashed its proposed increase in spending for next year by more than half amid financial woes weighing down on the country.
The Ministry of National Defense said in a press release that it seeks a 3.8
percent budget increase for 2010 rather than 7.9 percent it had sought in July.
The cut is a setback for the ministry that would have otherwise secured an annual
expenditure of over 30 trillion won (US$25 billion) for the first time in its
history.
The readjustment to 29.6 trillion won came after a row last month in which then
Defense Minister Lee Sang-hee expressed dissatisfaction over the planned cut in a
letter to President Lee Myung-bak.
The minister, who was already considered subject to a wide government reshuffle,
was sacked earlier this month, replaced by Kim Tae-young, former chairman of the
Joint Chiefs of Staff.
"Despite the reduction in the rate of increase, the new budget will sufficiently
help defense projects to be pursued in a stable manner," the ministry said,
citing "worsening financial conditions in the government" as the reason for the
slash.
Defense spending is a key area of interest for South Korea that has 655,000
troops facing North Korea's 1.2-million-strong army.
The ministry argued earlier this month that it needed a hike comparable to
previous ones so it could deal with the rising threat of North Korea's missile
and nuclear programs.
North Korea in April launched a rocket that neighbors fear could be developed
into a long-range ballistic missile and conducted its second nuclear test the
following month. The two Koreas remain technically at war after the 1950-53
Korean War ended in a truce.
The defense ministry pledged Monday that the compromise in spending will not lead
to a compromise in its main defense systems against North Korea's nuclear and
missile threats.
Aegis combat destroyers, missile interceptors and early warning radars against
ballistic missiles will be assigned priority, the ministry said.
Spending on research and development in weapons systems will increase from 5.6
percent to 6.1 percent of the budget, amounting to 1.7 trillion won, the ministry
added.
"Fifty-nine development projects will continue to be pursued, including those on
medium-range surface-to-air guided missiles, unmanned medium-altitude aerial
vehicles, the Tactical Information Communication Network, FA-50 attack aircraft
and indigenous helicopters," it said.
The South Korean government said in a separate release that it plans to raise its
entire budget spending for 2010 by 2.5 percent.
According to the Ministry of Strategy and Finance, the nation's expenditure will
amount to 291.8 trillion won, compared with 284.5 trillion won set aside for this
year.
samkim@yna.co.kr
SEOUL, Sept. 28 (Yonhap) -- South Korea's defense ministry said Monday it has slashed its proposed increase in spending for next year by more than half amid financial woes weighing down on the country.
The Ministry of National Defense said in a press release that it seeks a 3.8
percent budget increase for 2010 rather than 7.9 percent it had sought in July.
The cut is a setback for the ministry that would have otherwise secured an annual
expenditure of over 30 trillion won (US$25 billion) for the first time in its
history.
The readjustment to 29.6 trillion won came after a row last month in which then
Defense Minister Lee Sang-hee expressed dissatisfaction over the planned cut in a
letter to President Lee Myung-bak.
The minister, who was already considered subject to a wide government reshuffle,
was sacked earlier this month, replaced by Kim Tae-young, former chairman of the
Joint Chiefs of Staff.
"Despite the reduction in the rate of increase, the new budget will sufficiently
help defense projects to be pursued in a stable manner," the ministry said,
citing "worsening financial conditions in the government" as the reason for the
slash.
Defense spending is a key area of interest for South Korea that has 655,000
troops facing North Korea's 1.2-million-strong army.
The ministry argued earlier this month that it needed a hike comparable to
previous ones so it could deal with the rising threat of North Korea's missile
and nuclear programs.
North Korea in April launched a rocket that neighbors fear could be developed
into a long-range ballistic missile and conducted its second nuclear test the
following month. The two Koreas remain technically at war after the 1950-53
Korean War ended in a truce.
The defense ministry pledged Monday that the compromise in spending will not lead
to a compromise in its main defense systems against North Korea's nuclear and
missile threats.
Aegis combat destroyers, missile interceptors and early warning radars against
ballistic missiles will be assigned priority, the ministry said.
Spending on research and development in weapons systems will increase from 5.6
percent to 6.1 percent of the budget, amounting to 1.7 trillion won, the ministry
added.
"Fifty-nine development projects will continue to be pursued, including those on
medium-range surface-to-air guided missiles, unmanned medium-altitude aerial
vehicles, the Tactical Information Communication Network, FA-50 attack aircraft
and indigenous helicopters," it said.
The South Korean government said in a separate release that it plans to raise its
entire budget spending for 2010 by 2.5 percent.
According to the Ministry of Strategy and Finance, the nation's expenditure will
amount to 291.8 trillion won, compared with 284.5 trillion won set aside for this
year.
samkim@yna.co.kr
