S. Korea to set aside largest-ever ODA budget for next year, provide Ukraine...

S. Korea to set aside largest-ever ODA budget for next year, provide Ukraine with nearly US$ 400 mil. of support
ODA 역대 최대 규모 6조 5천억 우크라 5천억원 지원

Despite the belt-tightening, South Korea has set aside a record-high amount for Official Development Assistance in line with its "global pivotal state" policy.
Military spending is also set to go up to counter North Korea's nuclear and missile aggression.
For more, here' our foreign affairs correspondent Bae Eun-ji.

South Korea has tentatively allocated its largest-ever budget for Official Development Assistance,.. or government aid designed to promote the economic development and welfare of other countries.
Stressing the country's growing role in the global community, President Yoon said Tuesday that the government plans to raise the ODA budget next year to 6-point-5 trillion Korean won, or roughly four-point-nine billion dollars.

Of the total ODA budget, nearly 400 million dollars will be used to support Ukraine, which is eight times higher than last year.
It will spend 196 million dollars to provide medical supplies, humanitarian aid, and around 98 million dollars for reconstruction projects, and another 98 million will be given to help Ukraine through international agencies.

As for next year's defense budget, the country has announced a plan to increase it by 4-point-five percent, focusing on strengthening its capabilities to counter North Korea's nuclear and missile threats.
The Defense Ministry said Tuesday that it will submit a budget proposal of about 45 billion U.S. dollars --to the National Assembly on Friday for approval.
It seeks to spend around 13-point-5 billion dollars to bolster defense capabilities, 5-point-2 percent higher compared to the year before.
This includes building a combined combat system using both manned and unmanned assets, as well as developing the country's so-called "three-axis" defense system, a scheme to counter North Korea's nuclear and missile threats.
The first axis is to pre-emptively strike North Korea's nuclear and missile sites --when there are signs of an imminent attack targeting South Korea.
If that fails, it moves onto the second axis, intercepting launched missiles using a multi-layered missile defense system, and finally the third axis, mass retaliation against North Korea following an attack on the South.
The ministry also set aside 31 billion dollars to run its military forces, an increase of 5-point-8 percent on-year.
Meanwhile, the government decided to cut next year's budget for the unification ministry, by more than 20 percent.
Bae Eun-ji, Arirang News.

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2023-08-29, 18:00 (KST)