South Korean President Lee Jae-myung announced on Wednesday (October 1st) that the government’s defense budget for the fiscal year 2026 will increase by 8.2%, reaching 663 trillion Korean won (approximately 471 billion US dollars). He emphasized that only with a strong foundation of security can peace be achieved.
Lee Jae-myung made this statement during the celebration of the 77th anniversary of the founding of the military on “Armed Forces Day.” He pointed out that “in an era where the world is becoming more fragmented and conflicts intensify, Korea cannot rely on others and must strengthen its own capabilities to ensure peace and prosperity.”
At the same time, he stressed that the additional defense budget will focus on advanced technologies such as drones and robots to enhance self-defense capabilities.
Regarding the situation between North and South Korea, Lee Jae-myung reiterated that although he is committed to dialogue with North Korea, “peace can only be built on a foundation of security.” He also noted that South Korea’s annual military expenditure is 1.4 times that of North Korea’s GDP, demonstrating Seoul’s military advantage.
Lee Jae-myung took office through early elections in June this year. Former President Yoon Seok-yeol stepped down amid controversy after briefly imposing martial law. Lee Jae-myung stated that the military’s reputation was severely damaged during this political storm and called for the rebuilding of public trust in the armed forces.
He emphasized that the military’s mission is to protect the people, and “incidents where weapons are aimed at citizens must never happen again in the future.”
(This article referenced reporting from Reuters)