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South Korea Increases Defense Supplies: President Yoon Targets Becoming Top Supplier

Dr. Kankana DebnathAugust 24, 20220

South Korea’s President, Yoon Suk Yeol has completed his 100 days in office. During this time he has expressed his plans to make Korea one of the world’s top four weapons suppliers. He increased South Korea's defence budget, wishing to join the top exporters league along with the US, Russia and France. South Korea increases its defence supplies, leading to strategic industrialization making it a defensive powerhouse. South Korea’s global status as a military supplier In 2021, South Korea ranked 10th in the world in arms transfers according to the SIPRI. The value of arms export in South Korea is valued at $566 million. South Korea has already taken steps to achieve its top four ambitions by signing its biggest-arms deal with Poland. The deal was made with almost 1,000 K2 tanks, 600 ...

ArticleIndia

Is Budget Allocated To Defense Sufficient Practically?

Pooja YadavFebruary 12, 20220

We have seen an increment in the allocation of finance for defence in the current Union budget. The allocated budget to the defence sector is Rs 5.25 lakh crore. Out of this, Rs 2.33 lakh crore is allowed for revenue expenditure for maintenance of salaries and other purposes. Rs 20 thousand crores was allocated to the ministry of defence and Rs 1.39 lakh crore for the pensioners. Rs 1.5 lakh crore for the capital expenditure was allotted including purchasing of military equipment, warships, and other hardware. In a layman language, we can understand in this way that 28% of the total fund allocated to the defense sector is available for the modernization of our forces. India's vulnerability in this hostile situation is increasing rapidly, the lack of funds for new weapons, ai...