Seoul announces major defence boost in 2020-24 plans
The South Korean Ministry of National Defense's (MND) latest Defense Mid-Term Plan covering the five-year period from 2020-24 foresees an ambitious increase in spending.
The roadmap emphasises the application and leverage of technology to achieve all-round security, and will require challenging annual budget increases of 7.1% to achieve.
The plan, announced on 14 August, envisages spending of KRW290.5 trillion ($239.9 billion), which represents a growth of 7% compared to the preceding 2019-23 plan.
The MND stated: ‘The ministry has decided to concentrate on enhancing defence capabilities to make leading responses to security threats from all directions possible, as well as
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![White House calls on Pentagon contractors to “rapidly and aggressively” boost weapon production]()
White House calls on Pentagon contractors to “rapidly and aggressively” boost weapon production
Intended to sustain Operation Epic Fury against Iran, efforts to increase the production of weapons and ammunition could expose long-standing weaknesses in the US defence industrial base.
-
![India’s strategic defence footprint expansion could be accelerated by Iran-Israel conflict]()
India’s strategic defence footprint expansion could be accelerated by Iran-Israel conflict
The latest escalation between Iran and Israel could shape New Delhi’s next-generation shield as India deepens cooperation with Israel on missile defence and drone production.
-
![Is the US magazine of air defence interceptors deep enough to sustain a long campaign against Iran?]()
Is the US magazine of air defence interceptors deep enough to sustain a long campaign against Iran?
The Pentagon spent a considerable number of THAAD and SM-3 rounds to defend against Iranian missiles in 2025 and has not fully replenished its reserves.
-
![New Zealand buys tri-service uncrewed kit from Syos Aerospace]()
New Zealand buys tri-service uncrewed kit from Syos Aerospace
As uncrewed technology continues to play an increasingly central role in modern military activities, New Zealand’s recent acquisitions point towards its the force’s focus on cost-effective capability.
