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Friday, September 21, 2007

SKorea to boost spending in 2008, budget focused on social welfare, military

South Korea on Thursday unveiled its budget for next year designed to expand social welfare programs and boost military capacity.

The budge for fiscal 2008 was set at 257.3 trillion won, a 7.9 percent rise on this year's 238.4 trillion won, the Ministry of Planning and Budget said.

'The budget focuses on boosting economic growth potential and dealing with the aging population,' said Chang Byoung-Wan, minister of Planning and Budget.

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