FX.co ★ South Korea Boosts Defense Budget

South Korean President Lee Jae Myung has unveiled plans to augment the nation’s defense budget by 8.2% for the fiscal year 2026, resulting in a total allocation of KRW 66.3 trillion. In a statement made during the celebration of the country's Armed Forces Day, President Lee emphasized the necessity of a robust security foundation to ensure peace, highlighting the strategic importance of enhancing self-defense capabilities. The increased budget is set to focus on advancing the military's technological edge, with significant investments directed towards innovations in drones and robotics. Furthermore, President Lee addressed the long-standing challenges regarding the military's public image, acknowledging a persistent decline in reputation. He advocated for concerted efforts to rebuild public trust and modernize the armed forces.