The defense ministry on Tuesday requested a 3.6 percent increase in defense spending next year to bolster capabilities to respond to evolving North Korean military threats.

Earlier in the day, the Cabinet endorsed the proposed budget of 61.59 trillion won (US$46.3 billion) for 2025, compared with 59.42 trillion won this year.

The government will submit the proposal to the National Assembly next Monday. If approved, it would mark the first time South Korea’s defense budget surpasses 60 trillion won.

The rate of increase in the defense budget slightly exceeds the proposed total government spending increase of 3.2 percent.

“Despite the government’s stringent approach to sound fiscal policy, it has prioritized the defense sector by considering the grave internal and external security situation,” the ministry said in a release.

Source: Yonhap News Agency