18 Jan '11, 10am

North Korea is spending about a third of its national income on its military, a South Korean think tank said.

The North said it spent US$570 million (S$732 million) on its military in 2009, but the real amount, calculated on an exchange rate based on purchasing power parity terms, was US$8.77 billion. -- PHOTO: AP SEOUL - NORTH Korea is spending about a third of its national income on its military, a much larger amount than announced, as it builds its forces despite a struggling economy, a South Korean think tank said on Tuesday. The North said it spent US$570 million (S$732 million) on its military in 2009, but the real amount, calculated on an exchange rate based on purchasing power parity terms, was US$8.77 billion, the state-run Korea Institute of Defense Analyses (KIDA) said in a report. The North's gross national income stood at 28.6 trillion won (S$256.8 billion) in 2009, compared with South Korea's 1,068 trillion won, it said. North Korea leader Kim Jong-il's ruling princi...

Full article: http://www.straitstimes.com/BreakingNews/Asia/Story/STISt...

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