South Korea’s president vows to increase defense spending

By Anadolu staff

South Korean President Lee Jae Myung said his country will increase defense spending as part of efforts to play a more “leading role” in maintaining security on the Korean Peninsula.

Lee made the remarks following his first summit with US President Donald Trump at the White House, local media reported Tuesday.

Speaking at the Center for Strategic and International Studies in Washington, DC, he said South Korea would allocate more resources to strengthen its military capabilities, said Yonhap News Agency.

"South Korea will take on a more leading role in maintaining security on the Korean Peninsula. First of all, (we) will increase defense spending," he said.

Lee didn't say by how much South Korea will increase defense spending.

The Trump administration has urged allies to spend up to 5% of their gross domestic product (GDP) on defense, a figure that far exceeds South Korea’s current 2.32%.

The country’s defense budget this year stands at 61.2 trillion won ($44 billion).

"At the summit meeting, President Trump and I agreed to modernize our bilateral alliance to be more reciprocal and future-oriented in line with the changing security landscape," he said.

South Korea hosts some 28,500 US troops, an arrangement that started in the wake of the 1950-1953 Korean War.