Sergeant Monthly Salary Reaches 2.05 Million Won Era... Yoon Announces Pay Raise Plan

Current Sergeant Salary 1.25 Million Won
Increased to 2.05 Million Won Next Year
Yoon "Expanding Defense and Diplomacy Budget"

Photo unrelated to the article. / Photo by Moon Honam munonam@

The government announced next year's budget plan, which includes a proposal to raise the monthly salary of military sergeants to 2.05 million won.

On the 4th, President Yoon, through Prime Minister Han Duck-soo's reading of the next year's budget speech, stated, "We have re-examined the validity and effectiveness of all fiscal projects and carried out a total expenditure restructuring of 24 trillion won," adding, "Through next year's budget, we will focus on supporting four key areas: expanding tailored welfare for the vulnerable, spreading economic vitality, improving the economic structure to prepare for the future, and ensuring a safe society along with global pivotal diplomacy." The total expenditure in next year's budget is 677.4 trillion won, an increase of 20.8 trillion won (3.2%) compared to last year. Although the growth rate of total expenditure slightly rose from 2.8% this year, it remains the fourth lowest since the fiscal statistics revision in 2004.

President Yoon explained, "We raised the median income, which serves as the standard for all welfare projects, by a record 6.4%. The livelihood benefit for a four-person household next year will increase by 120,000 won per month compared to this year," emphasizing increased spending for welfare of the vulnerable. He continued, "Single-parent families will receive child-rearing support of 200,000 won per child per month for up to 18 years, and nearly 10 million elderly people will be provided with a record 1.1 million jobs," adding, "We will also supply 252,000 housing units to promote residential stability." Furthermore, support for small business owners is expected to expand. The repayment period for policy funds will be extended up to five years, and the New Start Fund used for debt adjustment will be increased to over 40 trillion won.

A record-high 29.7 trillion won will be invested in R&D. President Yoon stated, "We will focus on investments that prepare for the future to secure growth engines for our economy." Additionally, the defense and foreign affairs budgets will be expanded, with next year's soldier salaries reaching 2.05 million won per month for sergeants. The official development assistance (ODA) budget will increase to 6.7 trillion won, and settlement support funds for North Korean defectors will also be raised by 50%.

On the same day, President Yoon also urged the swift implementation of four major reforms in pensions, healthcare, labor, and education. Presiding over a senior secretaries meeting at the Yongsan Presidential Office, he requested, "Please complete these well within the year so that the public can feel the impact." Later, during a regular meeting with Prime Minister Han, he said, "Encourage and monitor each ministry to promptly carry out reform tasks so that the public can directly experience the policy outcomes within the year."

Meanwhile, the current soldier salaries are known to be 640,000 won for private, 800,000 won for private first class, 1,000,000 won for corporal, and 1,250,000 won for sergeant.