To Give Coronavirus Disaster Aid…Defense Budget Cut by ₩904.7 Billion (~$750 Million), Including the Budget for F-35 Stealth Fighter

2020-4-17, NewDaily [Translation]

The government of Moon Jae-in decided to cut ₩904.7 billion (~$750 million) in the defense budget this year in the name of providing emergency disaster aid to the people suffering from economic difficulties due to the Wuhan Coronavirus.  It is reported that the budget for the introduction of the F-35 stealth fighter was included [in the cut].  The Ministry of National Defense explained that it was “a way to postpone the payment of project financing.”

25% of the ₩3.6 trillion (~$3 billion) reduction in the government’s annual expenditure comes from the defense budget

At the State Council meeting on April 16, 2020 [1 day after the elections], the government decided to make a second supplementary plan for emergency disaster aid amounting to ₩7.6 trillion (~$6.3 billion). [truncated]

The government department’s expenditure cuts totaled ₩3.6 trillion  (~$3 billion). Defense budget cuts amounted to ₩904.7 billion (~$750 million) or 25% of the total.  It was the largest cut among all of the government departments.

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[truncated] According to data distributed by the Ministry of Strategy and Finance, budgets related to the Ministry of Unification, such as the South Korea-North Korea Cooperation Fund, were not included in the cut.

Source:  http://www.newdaily.co.kr/site/data/html/2020/04/16/2020041600152.html