Republican presidential candidate Donald Trump on Monday called on member countries of the North Atlantic Treaty Organization (NATO) to spend at least 3 percent of their gross domestic product
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
President Yoon Suk Yeol pledged on Tuesday to uphold fiscal soundness in the 2025 budget proposal while prioritizing the welfare of vulnerable groups and fostering economic growth.
Yoon presided
The government’s proposal of maintaining a tight budget in 2025 illustrated its commitment to fiscal policy normalization amid the tax revenue shortfall, but calls for greater fiscal policy roles
South Korea has increased funding for North Korean defectors to support their early settlement as part of its budget proposal for next year, in line with its new unification
The government earmarked 29.7 trillion won (US$22.3 billion) in the budget for research and development (R and D) projects in 2025, officials said Tuesday.
Next year’s R and D
The following is the gist of the state budget of 677.4 trillion won (US$509.71 billion) proposed by the finance ministry for 2025 on Tuesday, which marks a 3.2 percent
Former President Donald Trump wanted South Korea to cover all costs for the stationing of the U.S. Forces Korea (USFK) at a key military base as well as a
