Moon to raise defense budget to 2.9% of GDP within term

President Moon Jae-in on Tuesday said that he plans to raise the country’s defense spending to 2.9 percent of the gross domestic product from the current 2.4 percent during his term.

Speaking at a meeting with current and former defense ministers, and commanders of key branches of the military, Moon said that his administration is planning the increase, asking those in attendance for advice on improving Seoul’s defense capabilities.

“The new administration seeks dialogue with North Korea, but it would be meaningless without overwhelming defense capabilities,” Moon said.

“The goal is to raise the defense budget to 2.9 percent of the GDP from the current 2.4 percent within (my term).”

Those who attended the meeting included Han Min-koo and Song Young-moo, the former and incumbent defense ministers, respectively, commanders of the Air Force, Army, Navy and the marines.

Moon also stressed the importance of defense, saying that national security must not be affected by politics.

“Defense is a matter of survival of the nation. Defense and national security is all the more important as North Korea continues its provocations,” Moon said, describing economy and defense as the most important pillars that maintain a nation.

By Choi He-suk (cheesuk@heraldcorp.com)