South Korea will allocate 479.8 billion won to develop a missile defense system modeled after Israel's "Iron Dome," the South Korean arms agency DAPA reported on Monday. The government in Seoul plans to invest 479.

South Korea will allocate 479.8 billion won for the development of a missile defence system modelled after Israel's "Iron Dome," the South Korean arms agency DAPA reported on Monday. The government in Seoul plans to invest 479.

South Korea on Monday officially began the development of a homegrown interceptor system akin to Israel's Iron Dome to bolster its defense against North Korean artillery threats, the state arms procurement agency said.