SEOUL, Jan. 11 (Yonhap) -- South Korea has set aside more than 540 billion won (US$465 million) for humanitarian aid for North Korea this year, the Unification Ministry said Wednesday.

Most of the budget is earmarked for the South Korean government's possible rice and fertilizer aid to its impoverished northern neighbor. It is also designed to provide aid to the North in case of natural disasters, according to the ministry, which handled inter-Korean affairs.