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South Korea increases 2017 military budget by 4%

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South Korea has increased its defense budget for next year by 4 percent as it moves to beef up missile defense capabilities amid growing threats from North Korea, the defense ministry said Tuesday. The government has allocated a total of $36.5 billion to bolstering the country's defensive capabilities in 2017, up from 38.799 trillion won set for this year, the Ministry of National Defense said in a statement. 
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