Latest news with #NATOSummit
Miami Herald
7 hours ago
- Business
- Miami Herald
South Korea says defense spending ‘very high' compared to U.S. allies
SEOUL, June 20 (UPI) -- South Korea's Defense Ministry said Friday that its defense spending as a share of gross domestic product is already "very high" compared to other U.S. allies, as Washington calls for NATO members and Asian countries to increase their military budgets. "Among major U.S. allies of the United States, South Korea has a very high ratio of defense spending to GDP," the ministry said in a message to reporters. "We have continuously increased our defense budget in consideration of the serious security situation, including North Korea's nuclear and missile threats." "South Korea will continue to make efforts to secure the capabilities and posture necessary for the defense of the Korean Peninsula and peace and stability in the region," the ministry added. In 2024, South Korea spent $47.6 billion, or 2.6% of GDP, on defense, according to data from the Stockholm International Peace Research Institute. That share is higher than Britain's 2.3%, France's 2.1%, Germany's 1.9% and Japan's 1.4%. Seoul's statement suggested concerns over remarks by U.S. Defense Secretary Pete Hegseth earlier this week calling for a "new standard" for allies in NATO and Asia to spend 5% of GDP on defense. "We expect NATO allies to commit to spending 5% of GDP on defense or defense-related investment," Hegseth said at a Senate Armed Services Committee hearing on Wednesday. "We now have a new standard for ally defense spending that all of our allies around the world, including in Asia, should move to," Hegseth said. "It's only fair that our allies and partners do their part. We cannot want their security more than they do." Hegseth also called for Asian countries to increase their spending in remarks at a defense forum in Singapore last month. "It doesn't make sense for countries in Europe to [spend 5% of GDP] while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea," he said at the annual Shangri-La Dialogue. The defense spending issue looks to be a potentially contentious topic at next week's NATO Summit in The Hague. NATO countries committed to a goal of 2% of GDP in 2014, which two-thirds have reached, but U.S. President Donald Trump has long called for an increase and has been demanding the 5% figure since his reelection. NATO Secretary General Mark Rutte said last week he expected the allies to agree to the 5% target. "It will be a NATO-wide commitment and a defining moment for the alliance," he said in a speech at Chatham House in London. However, Spanish Prime Minister Pedro Sanchez pushed back on the proposal, which must be agreed to unanimously, in a letter to Rutte this week. "For Spain, committing to a 5% target would not only be unreasonable, but also counterproductive," Sanchez wrote Thursday, according to El Pais. "It would move Spain away from optimal spending and would hinder the EU's efforts to strengthen its security and defense ecosystem." South Korea's newly elected President Lee Jae Myung has not confirmed whether he will attend the NATO Summit, which will be held on June 24-25. His office had anticipated a meeting with Trump on the sidelines of last week's Group of Seven meeting to discuss tariffs and defense cost-sharing issues, but the U.S. president departed early. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
10 hours ago
- Business
- UPI
South Korea says defense spending 'very high' compared to U.S. allies
Secretary of Defense Pete Hegseth called for NATO members and Asian allies to increase their defense spending to 5% of GDP at a Senate Armed Services Committee hearing in Washington on Wednesday. Photo by Bonnie Cash/UPI | License Photo SEOUL, June 20 (UPI) -- South Korea's Defense Ministry said Friday that its defense spending as a share of gross domestic product is already "very high" compared to other U.S. allies, as Washington calls for NATO members and Asian countries to increase their military budgets. "Among major U.S. allies of the United States, South Korea has a very high ratio of defense spending to GDP," the ministry said in a message to reporters. "We have continuously increased our defense budget in consideration of the serious security situation, including North Korea's nuclear and missile threats." "South Korea will continue to make efforts to secure the capabilities and posture necessary for the defense of the Korean Peninsula and peace and stability in the region," the ministry added. In 2024, South Korea spent $47.6 billion, or 2.6% of GDP, on defense, according to data from the Stockholm International Peace Research Institute. That share is higher than Britain's 2.3%, France's 2.1%, Germany's 1.9% and Japan's 1.4%. Seoul's statement suggested concerns over remarks by U.S. Defense Secretary Pete Hegseth earlier this week calling for a "new standard" for allies in NATO and Asia to spend 5% of GDP on defense. "We expect NATO allies to commit to spending 5% of GDP on defense or defense-related investment," Hegseth said at a Senate Armed Services Committee hearing on Wednesday. "We now have a new standard for ally defense spending that all of our allies around the world, including in Asia, should move to," Hegseth said. "It's only fair that our allies and partners do their part. We cannot want their security more than they do." Hegseth also called for Asian countries to increase their spending in remarks at a defense forum in Singapore last month. "It doesn't make sense for countries in Europe to [spend 5% of GDP] while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea," he said at the annual Shangri-La Dialogue. The defense spending issue looks to be a potentially contentious topic at next week's NATO Summit in The Hague. NATO countries committed to a goal of 2% of GDP in 2014, which two-thirds have reached, but U.S. President Donald Trump has long called for an increase and has been demanding the 5% figure since his reelection. NATO Secretary General Mark Rutte said last week he expected the allies to agree to the 5% target. "It will be a NATO-wide commitment and a defining moment for the alliance," he said in a speech at Chatham House in London. However, Spanish Prime Minister Pedro Sanchez pushed back on the proposal, which must be agreed to unanimously, in a letter to Rutte this week. "For Spain, committing to a 5% target would not only be unreasonable, but also counterproductive," Sanchez wrote Thursday, according to El Pais. "It would move Spain away from optimal spending and would hinder the EU's efforts to strengthen its security and defense ecosystem." South Korea's newly elected President Lee Jae Myung has not confirmed whether he will attend the NATO Summit, which will be held on June 24-25. His office had anticipated a meeting with Trump on the sidelines of last week's Group of Seven meeting to discuss tariffs and defense cost-sharing issues, but the U.S. president departed early.
Saba Yemen
a day ago
- Business
- Saba Yemen
Putin: NATO's plans to increase military budgets are irrational, pointless
Moscow - Saba: Russian President Vladimir Putin warned on Thursday that increasing defense spending by NATO countries will not benefit anyone and will create additional risks. Putin said during a meeting with heads of international news agencies on the sidelines of the St. Petersburg International Economic Forum, according to Sputnik News Agency: "If NATO countries want to increase their defense budgets further, that's their business, but it will not benefit anyone and will inevitably create new risks." Putin described NATO's plans to increase military spending as "irrational and pointless." Earlier, French media reported, citing unnamed diplomats, that "the main focus at the NATO summit in The Hague will not be on Ukraine, but on reaching an agreement that satisfies US President Donald Trump regarding increased defense spending among NATO member states." The NATO Summit is scheduled to be held in The Hague on June 24-25. Saint Petersburg, Russia, will host the 28th St. Petersburg International Economic Forum from June 18-21, under the theme "Shared Values - The Foundation of Growth in a Multipolar World." Whatsapp Telegram Email Print
Perth Now
2 days ago
- Politics
- Perth Now
Albo's Trump meeting still up in air
Foreign Minister Penny Wong says Anthony Albanese is still considering whether he will fly to next week's NATO summit to meet with Donald Trump. The Prime Minister's highly anticipated meeting with the US President was called off after Mr Trump abruptly left the G7 Summit in Canada on Tuesday, amid the escalating conflict between Israel and Iran. Ukrainian President Volodymyr Zelenskyy and Indian Prime Minister Narendra Modi's scheduled meetings were also cancelled. Foreign Minister Penny Wong is "sure" and Albo Trump meeting will come soon. NewsWire / Brenton Edwards Credit: NewsWire Foreign Minister Penny Wong said on Thursday that she knew Mr Albanese was considering whether he should go to next week's NATO summit in the Netherlands. Senator Wong said she was 'sure' a meeting between the two leaders would occur at some point. 'In relation to the President, I'm sure there will be a meeting scheduled, and the Prime Minister looks forward to building on three very constructive phone calls,' she said. 'It's good to have some perspective here - there is a war going on in the Middle East, there's a war going on in Europe. 'President Trump left the G7, obviously wasn't able to meet the Prime Minister and wasn't able to proceed with the scheduled meeting. Anthony Albanese is "still considering" attending the NATO summit. Stefan Rousseau / NewsWire Credit: NewsWire 'He also wasn't able to have his scheduled meeting with the President of (South) Korea or the Prime Minister of India. So this is understandable in the circumstances.' Although both leaders were previously expected to attend the NATO Summit at The Hague, on Wednesday Mr Albanese said he was 'still considering' the trip and declined to confirm when a meeting with Mr Trump would be rescheduled. 'We'll meet soon and I'm sure that will occur. From time to time meetings are rescheduled, that's what happens,' Mr Albanese told reporters in Kananaskis while attending the G7. 'Those discussions have taken place over a period of time, and we'll continue to engage.'
Cision Canada
2 days ago
- Business
- Cision Canada
Prime Minister Carney to attend the Canada-EU Summit and the NATO Summit Français
OTTAWA, ON, June 18, 2025 /CNW/ - Today, the Prime Minister, Mark Carney, announced that he will travel to Brussels, Belgium, and The Hague, the Netherlands, from June 22 to 25, 2025, to participate in the Canada-European Union (EU) Summit and the North Atlantic Treaty Organization (NATO) Summit. At the Canada-EU Summit, the Prime Minister will meet with the EU presidents to deepen the Canada-EU relationship across all sectors, including diversifying trade and commerce, defending rules-based trade, and bolstering defence and security partnerships. At the NATO Summit, Prime Minister Carney will engage Allies to meet evolving threats in a more dangerous and divided world. Canada's new government is rebuilding, rearming, and reinvesting in the Canadian Armed Forces – reaching the 2 per cent target this year and accelerating defence investments in the months and years to come. Leaders will also support Ukraine to achieve a just and lasting peace. Canada will arrive at these summits with a plan to lead, and with new investments to build our strength in service of our values. This document is also available at
