The South Korean government has allocated a record KRW40.33 trillion (USD36.49 billion) to the country's 2017 defence budget, the Ministry of National Defense (MND) in Seoul announced on 5 September. The expenditure is a small decrease on the KRW40.87 trillion requested by the MND earlier this year but a 4% increase on the KRW38.79 trillion allocated to defence in 2016. The MND indicated the cabinet reduced the budget before its submission to the National Assembly for final approval later this year.
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