South Korean President Lee Jae Myung announced that defense budget for next year will rise by 8.2 percent, reaching 66.3 trillion won ($47.1 billion).
Lee made the remarks during Armed Forces Day events, stressing that maintaining peace requires a strong security foundation.
“The momentum for cooperation and shared prosperity is weakening across the world, and we are entering an era of increased conflict, where it’s every man for himself,” Lee said.
“To ensure peace and prosperity for the Republic of Korea, we must not depend on anyone else but strengthen our own power,” he added, using South Korea’s official name.
The president said the higher budget would prioritize investment in advanced technologies, including drones and robotics. He noted that South Korea’s defense spending already amounts to 1.4 times North Korea’s gross domestic product.
Lee, who took office in June after a snap election following the collapse of former president Yoon Suk Yeol’s government, also addressed the military’s standing with the public.
“The military’s reputation has suffered an endless decline,” he said. “An army meant to protect the people must never repeat pointing its guns at them.”
Lee’s comments come as his administration pursues engagement with North Korea while simultaneously reinforcing self-defense capabilities.
