Moon vows to raise de­fense bud­get

China Daily (Hong Kong) - - WORLD -

Pres­i­dent Moon Jae-in vowed on Tues­day to raise the coun­try’s de­fense bud­get to 2.9 per­cent of GDP from the cur­rent 2.4 per­cent within his five-year pres­i­dency. About 40.3 tril­lion won ($35.9 bil­lion) was al­lo­cated to this year’s de­fense bud­get of the coun­try. It could rise to as much as 50 tril­lion won in the next five years of his pres­i­dency. Moon took of­fice on May 10.

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