Thursday, June 14, 2007

Korea Ranked 11th Globally in Military Spending

Korea Ranked 11th Globally in Military Spending
Korea's military spending last year surpassed US$21 billion, just below the global top ten.

A tally by the Stockholm International Peace Research Institute shows Korea spent the eleventh-most in the world on its military activities.

Put another way, in 2006 the government spent US$455 on military outlays for every Korean citizen.

At the top of the rankings was the U.S. whose military spending last year exceeded US$500 billion.

The U.S. reportedly spent a good portion of this amount on its campaigns in Afghanistan and Iraq. Britain, France and China trailed the U.S., in that order.

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