Australia in the Korean War Australia in the Korean War The military history of Australia during the Korean War was very eventful. Japan's defeat in World War II heralded the end to 35 years of Japanese occupation of the Korean Peninsula. The surrender of Japan to the Allied forces on 2 September 1945 led to the peninsula being subsequently divided into North and South Koreas, with the North being occupied by troops from the Soviet Union, and the South, below the 38th parallel, being occupied by troops from the United States. The Soviet forces entered the Korean peninsula on 10 August 1945, followed a few
Impact of the Korean War on the economy of the United States tensions with the Soviet Union, the Korean War further increased it. The Korean War cost the US$30 billion in 1953, which is equivalent to US$341 billion in 2011. During the last year of the war, annual war expenditure comprised about 14.1 percent of GDP. Approximately 34,000 Americans were killed in battle and about another 2,800 died from disease or injury, with total US casualties, which includes dead, wounded, and missing in action, adding up to 139,860. The "Korean War GI Bill" was implemented in 1952, eventually covering veterans between June 27, 1950 and February 1, 1955. It offered the same