Ministry of National Defense Republic of Korea

Defense budget for 2023 fixed at 57.0 trillion won, up 4.4% over the previous year

- Reflecting new projects related to the Korean triad system, including the second phase of the F-X program -

A bill was passed by the National Assembly on December 24 (Saturday) fixing the defense budget for 2023 at 57.0143 trillion won, up 4.4% over the previous year.

The government had submitted a proposed defense budget for 2023 of 57.1268 trillion won to the National Assembly, which focused on dramatically strengthening capabilities to counter nuclear and missile threats from North Korea and improving the service conditions of soldiers. During the deliberation at the National Assembly, 210.2 billion won was cut due to projects with slow progress, and 97.7 billion won was added for a finalized budget of 57.0143 trillion won.

The government and National Assembly agreed that amid the escalating tension on the Korean Peninsula, including the frequent military provocations from North Korea in the past several months, securing core strength to counter nuclear and missile threats is the top priority task, and added six new projects including the Korean triad system.

The defense capability improvement budget for building military power rose to 16.9169 trillion won, up 1.3% over 2022.

The military strength operation budget for operating armed forces climbed to 40.0974 trillion won, rising by 5.7% over 2022.

The Ministry of National Defense will thoroughly prepare for the budget execution for 2023, and make efforts drastically strengthen military capabilities to counter North Korean nuclear and missile threats and foster a comfortable barracks environment.