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South Korea Pledges $530Mln to Counter N Korea's Missile Threat

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South Korea approved a package worth $530 million to step up defense fortifications against North Korea, the country's Defense Acquisition Program... 24.02.2017, Sputnik International

2017-02-24T14:48+0000

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South Korea Pledges $530Mln to Counter N Korea's Missile Threat

14:48 GMT 24.02.2017 (Updated: 14:57 GMT 24.02.2017)

© AP Photo / Ahn Young-joonA man watches a TV news program showing photos published in North Korea's Rodong Sinmun newspaper of North Korea's "Pukguksong-2" missile launch and North Korean leader Kim Jong Un at Seoul Railway Station in Seoul, South Korea, Monday, Feb. 13, 2017

A man watches a TV news program showing photos published in North Korea's Rodong Sinmun newspaper of North Korea's Pukguksong-2 missile launch and North Korean leader Kim Jong Un at Seoul Railway Station in Seoul, South Korea, Monday, Feb. 13, 2017 - Sputnik International

South Korea approved a package worth $530 million to step up defense fortifications against North Korea, the country's Defense Acquisition Program Administration (DAPA) said on Friday.

A man watches a TV news program reporting about North Korea's missile launch at the Seoul Train Station in Seoul, South Korea, Sunday, Feb. 12, 2017 - Sputnik International

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24 February 2017, 07:33 GMT

MOSCOW (Sputnik) — The funds will be aimed at development of the defense systems, including reconnaissance satellites, long-range surface-to-air missiles and medium-altitude drones, the DAPA said.

"The DAPA will pour out its efforts to implement the plans seamlessly with a vision to bring South Korea's defense technologies to the top global level," the DAPA said, as quoted by the Yonhap news agency.

Tensions on the Korean Peninsula escalated since North Korea carried out a number of missile launches and nuclear tests last year with the latest test-fire of a medium-range ballistic missile being conducted on February 12, declared successful by Pyongyang. The launches were considered to be in violation with the UNSC resolution by the United Nations.