South Korea to Increase Defense Budget

South Korea will increase its defense budget by 7 percent next year, raising the amount to 43.2 trillion won (39.7 billion USD). The budget allocates 4.3 trillion won to the “three-axis defense platform,” which includes the Kill Chain Preemptive Strike System, Korean Air and Missile Defense (KAMD), and the Korea Massive Punishment and Retaliation (KMPR) plan, up 551 million won from this year. The budget also includes 2.9 trillion won for advanced research and development projects, including surface-to-surface guided missiles known as KTSSM, introduction of military satellites, and upgrades to the Patriot missile system.