. Korea finalizes 221-tln-won budget plan for 2006
SEOUL, Sept. 27 (Yonhap) — The South Korean government on Tuesday unveiled a 221.4 trillion won (US$214 billion) budget plan for fiscal 2006 that marks a 6.5-percent gain from this year and aims mainly at bolstering the economy’s growth potential.
According to the Budget Ministry, the general-account budget will increase 8.4 percent to 145.7 trillion won, while the budget of 22 special accounts and 61 state-run funds will rise 4.7 percent to 105.9 trillion won.
S. Korean Cabinet approves US$22 billion military budget proposal
By Kim Hyung-jin
SEOUL, Sept. 27 (Yonhap) — South Korea’s Cabinet endorsed a proposal Tuesday to raise next year’s military budget by 9.8 percent to 22.8 trillion won (US$22 billion) to beef up its war capability against North Korea, the Defense Ministry said.
The budget proposal will be sent to the National Assembly late this month for final approval, the ministry said in a statement.