US urges South Korea to increase defense spending to 5% of GDP

South Korea is facing calls from the United States to increase its defense budget to 5% of gross domestic product (GDP) amid a decision by NATO countries to raise their military spending target. This was announced on July 26 by National Security Adviser Wee Son Lak following the results of the North Atlantic Alliance summit in The Hague.

"This is a broader trend, and similar demands have been made on us," the Yonhap news agency quoted the adviser as saying.

Wee clarified that discussions on this topic are already underway at the working level, and Seoul will have to work out its own position. The issue may be raised during the upcoming security consultations between South Korea and the United States.

He also said that he had met with US Secretary of State Marco Rubio on the sidelines of the NATO summit. The parties agreed to work on preparing a summit between South Korean President Lee Jae-myung and American leader Donald Trump.

In addition, Wee noted that the US president had expressed interest in cooperation in the shipbuilding industry.

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The day before, it was reported that NATO countries had committed to allocate 5% of their GDP to defense by 2035. According to the declaration, the alliance members are going to allocate funds to finance basic defense needs, as well as to achieve NATO's potential targets.