According to The Korea Herald, South Korea has finalized its 2015 defense budget that calls for a 4.9 percent increase from this year to improve the welfare of servicemen and enhance combat capabilities, the defense ministry said Wednesday, December 3.
Next year's defense spending has been set at 37.4 trillion won (US$33.6 billion), accounting for some 9.9 percent of the nation's total budget of 375.4 trillion won passed Tuesday by the National Assembly. The ministry had originally sought a 5.2 percent rise.
Of the total defense budget, 26.4 trillion won has been set aside for troop maintenance which includes the improvement of their service environments in the wake of a series of tragic incidents at barracks. It represents a 4.9 percent hike from this year.
The remaining 11.1 trillion won has been earmarked for efforts to boost defense capabilities, or a 4.8 percent increase from this year.
Read the full story at Army Recognition