Korea; Government to defer $485M. from defense budget for COVID-19 economy recovery plan

South Korea will delay inducting its new F-35A fighters, as it directs 560 billion won ($485.8 million) from its defense budget to fund an extra budget in the wake of the COVID-19 pandemic.

File:Emblem of the Ministry of National Defense (South Korea) (Korean).svg  - Wikimedia Commons

In July, the government passed a 34.9 trillion-won ($30.3 billion) extra budget bill aimed at propping up the economy battered by the pandemic and to support smaller businesses.

The diverted funds were earmarked for 22 projects including the introduction of F-35A fighters and improvement of Patriot missiles.

In 2020, the government cut around 1.77 trillion won ($1.54 billion) from the defense budget to fund extra budget plans amid COVID-19. As per older reports, the MoD pushed payment schedules for Aegis destroyer systems and for the introduction of F-35A stealth fighters due that year, to 2021.

South Korea started induction of the advanced stealth fighters in 2019 under a under a plan to deploy 40 units through this year.

Korea; Government to defer $485M. from defense budget for COVID-19 economy recovery plan

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