Gov't to cut number of troops by 79,000 by 2022, substituted by new technology

To prepare for the declining population, the government plans to cut the number of military personnel in the next three years,... while pushing for structural reforms to revitalize the local economy.
Yoon Jung-min reports.
The South Korean government plans to cut the number of troops to 500-thousand by 2022 a reduction of 79-thousand from the current level.
In a meeting with economy-related ministers on Wednesday,... Finance Minister Hong Nam-ki said the government will reorganize the current military system and use new technology to prepare for the decreasing number of soldiers due to demographic changes.
The government also plans to increase the number of female soldiers from the current 6 percent to 8-point-8 percent in the next three years,... while reviewing whether to make military service mandatory for naturalized Koreans.
Under the current law, all able-bodied Korean men must serve around two years in the military.
Naturalized Korean citizens, however, can decide whether or not to serve.
At the meeting, the finance minister also announced plans to reorganize the country's economy through de-regulation, public sector innovation, and increasing flexibility and security in the labor market.
The minister hinted that the government will give more support to future industries,... and details will be included in next year's government economic plan.
To revitalize the country's slowing economy, the government will help local exporters by supporting Korean wave marketing, with more financial support to promote goods and services related to K-pop, K-beauty and games.
Yoon Jung-min, Arirang News.