A budget of $253 billion (300.7 trillion won) has been earmarked for defense spending. Of the total, 100 trillion won was allocated for improving defense capabilities, while the remaining 200 trillion won was set for force management.
Among the projects approved is the development of a local version of the Israeli Iron Dome interceptor in the next five years.
The ministry will also begin procedures to acquire a light aircraft carrier next year and kick-off production of KF-X jet under its 8.8 trillion won project launched in 2016.
S. Korea; $253B. defense budget for 2021-25