The government’s defense budget for next year has been set at 61.6 trillion won. This is a 3.6% increase from this year (59.4244 trillion won). If it passes the National Assembly, it will be the first time in five years that the defense budget has reached 50 trillion won in 2020 (50.1527 trillion won).
The monthly salary of a private will increase from 1.25 million won this year to 1.5 million won next year. The asset formation fund, the ‘Private Tomorrow Preparation Support Fund’, will also increase from 400,000 won this year to 550,000 won next year, and including this, the total salary of a private will be 2.05 million won. ‘Private salary of 2 million won’ is President Yoon Seok-yeol’s presidential campaign promise.
6.16 trillion won will be invested in strengthening the ‘Korean 3-axis system’ to respond to North Korea’s nuclear weapons. Among the 3-axis system, the core of the ‘Kill Chain (preemptive strike)’ will be the additional introduction of F-35A stealth fighters, the core of the ‘Korea Massive Punishment and Retaliation (KMPR)’ will be secured for reconnaissance and strike drones for special brigades, and the performance improvement project for the Cheolmae-2 with ballistic missile interception capabilities will be carried out. The Korean fighter KF-21 (Boramae) will also be mass-produced for the first time starting next year.
The budget for improving housing facilities for military families and junior officers will increase significantly from 526 billion won this year to 786.3 billion won next year. A training participation fee (40,000 won) for reserve forces in their 1st to 4th years who have not been mobilized and a transportation fee (6,000 won) for reserve forces in their 5th to 6th years have also been newly established.
The Ministry of Patriots and Veterans Affairs has allocated 9.7 billion won for a nationwide commemorative event utilizing new technologies such as drones and the construction of a Liberation Memorial Hall to mark the 80th anniversary of liberation next year. The Ministry of Unification has prepared a budget plan that includes a significant increase in the initial settlement support fund for North Korean defectors from the current 10 million won to 15 million won next year.
Meanwhile, next year’s civil servant wages will rise 3% from this year regardless of rank, including the president. This is the largest increase in eight years since 2017 (3.5%). The government explained that this reflects the accumulated inflation, the wage increase rate that has been suppressed during the pandemic, and the wage gap with the private sector.
Military expert reporter Yoon Sang-ho [email protected]
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2024-08-28 21:00:35