South Korea is in the final stages of developing a ballistic missile that can carry a warhead of up to 3 tons, Yonhap news agency reported on Thursday, as the country unveiled budget proposals aimed at bolstering its defences against North Korea
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"We will develop stronger, longer-range and more precise missiles so as to exercise deterrence and achieve security and peace on the Korean Peninsula," the ministry said in a statement. The missile would be the latest in a tit-for-tat conventional missile race between the two Koreas that is set to accelerate after South Korea and the United States agreed to scrap all bilateral restrictions on Seoul's missile development earlier this year.
"Following the termination of the guidelines, we will exercise deterrence against potential threats and improve strike capabilities against main targets," the defence ministry statement said.
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