The Defense Ministry says it needs an additional 712-point-four billion won next year to prepare key deterrence systems capable of countering North Korea's nuclear and missile threats.
Defense Minister Han Min-koo made the request in a report on next year's budget to the National Assembly's National Defense Committee on Tuesday.
Han said amid the North's growing nuclear and missile threats, it is imperative to stably secure finances for national defense in order to ensure firm readiness, underlining the need for active funding.
If the ministry's latest request is reflected in next year's budget scheme, defense funds will top 41 trillion won.
The ministry initially drew up a budget of some 40-point-three trillion won for next year, up four percent from this year.
Just last week, the government and ruling camp agreed to have the Kill Chain and the Korean Air and Missile Defense(KAMD) systems and the Korea Massive Punishment and Retaliation(KMPR) plan combat ready by the early 2020s, or two to three years earlier than initially planned.
Source: KBS World Radio
