Biden Requests 1,100 Trillion Won Defense Budget... Largest Ever in Peacetime

The U.S. government's defense budget proposal for the next fiscal year is expected to reach an all-time high for peacetime standards.

Bloomberg News reported on the 7th (local time) that an anonymous government official stated that U.S. President Joe Biden's budget proposal for fiscal year 2024 (October 2023 to September 2024), scheduled to be announced on the 9th, will include a defense budget of $835 billion (approximately 1,100 trillion KRW). Of this, $170 billion (about 224 trillion KRW) is allocated for weapons procurement and $145 billion (about 191 trillion KRW) for research and development, both reportedly the largest amounts ever. Compared to the previous fiscal year, these amounts represent increases of $8 billion (about 10.5 trillion KRW) and $5 billion (about 6.6 trillion KRW), respectively. A spokesperson for the White House Office of Management and Budget (OMB) declined to comment on these figures.

The increase in the defense budget is said to be significantly influenced by rising tensions with China. Although substantial weapons and supplies are also being provided to Ukraine, which was invaded by Russia, the costs for this aid are covered by supplemental appropriations separate from the U.S. Department of Defense budget.

Bloomberg News reported that $13.5 billion (about 17.8 trillion KRW) has been allocated in the fiscal year 2024 defense budget for the purchase, development, and upgrade of fighter jets. The U.S. Department of Defense plans to order 83 F-35 fighter jets. A U.S. government official also mentioned that a significant amount will be allocated for long-range missiles that could potentially be used in future conflicts with China.

This content was produced with the assistance of AI translation services.