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South Korea finance minister says will boost defence related spending


    SEOUL (Reuters) - South Korea's finance minister said on Thursday the government is planning to boost defence related spending for next year, days after a spike in tensions between North and South Korea that sparked an exchange of artillery fire.

    Finance Minister Choi Kyung-hwan also said that next year's budget will be expansionary without harming fiscal soundness.

    "We will also make conservative growth and tax revenue forecasts in a realistic manner," said Choi, at a meeting in Seoul with the country's ruling Saenuri Party to discuss the budget.

    (Reporting by Shin-hyung Lee; Writing by Christine Kim; Editing by Shri Navaratnam)