Seoul (TDI): South Korean President has announced the biggest ever increase in defense spending in six years in a parliamentary address on Tuesday.
President Lee Jae Myung said next year’s defense budget will by up by 8.2%, accounting for a total $46bn; which is 66.3 trillion in the country’s own currency, won.
This announcement coincided with the visit of the United States Defense Secretary, Pete Hegseth, who was in the country for the 57th Security Consultative Meeting. He also visited the demilitarized zone with North Korea.
The US has maintained for some time that South Korea should increase its defense spending to better meet the goals of this bilateral military alliance; in which Seoul hosts 28,500 US soldiers primarily in the view of the threat from North Korea.
But the US also been demanding more “flexibility” for the stationed troops, which stems from a desire to use them in regional conflicts beyond the Korean peninsula. South Korea has resisted this.
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Alongside his Korean counterpart, Ahn Gyu-back, US Defense Secretary said, “There’s no doubt that flexibility for regional contingency is something we would take a look at.”
“Our historic alliance is stronger than ever before and is vital to the Asia Pacific,” he also said during the joint press conference.
No concrete agreement has yet been reached regarding a new role for the US troops. However, nuclear-powered submarines were also discussed in this meeting.
Hegseth said that the US will support South Korea’s plans to build nuclear-powered submarines, without sharing much detail. South Korea, for its part, said that it could launch a nuclear-powered submarine by 2030 provided the availability of fuel from the US.
Speaking about increase it defense spending, Hegseth remarked “I’m greatly encouraged by Minister Ahn’s commitment to increase defense spending, and to make greater investments in ROK (Republic of Korea) military capabilities.”
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