19 July 2017

News Story: S. Korea considers private funding for new military capabilities

SEOUL, July 18 (Yonhap) -- South Korea's military is mulling over partly financing major firepower projects with private funds, an official said Tuesday.

South Korea is pushing for the establishment of a "three-axis" platform to help defend itself against North Korea's growing nuclear and missile threats. The three elements are the Kill Chain pre-emptive strike system, the Korean Air and Missile Defense (KAMD) and the Korea Massive Punishment and Retaliation (KMPR) strategy.

South Korean President Moon Jae-in has pledged to complete the program as early as possible, since it's a precondition for the transfer of wartime operational control (OPCON) of his troops from the United States.

"Our military will make efforts on various ways including the build-transfer-lease (BTL) system to set up the capabilities to counter North Korea's nukes and missiles as early as possible, which include the three-axis scheme," Moon Sang-gyun, spokesman for the Ministry of National Defense, said at a press briefing.

A legal review is required for the military's adoption of the privately funded BTL, he added.

Read the full story at YonhapNews