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
Our news & analysis is now part of Defence Insight®
A Basic-level or higher Defence Insight subscription is now required to view this content.
More from Defence Notes
-
![Eurosatory 2026: Milrem Robotics puts forward multi-layered defence concept for NATO's eastern flank]()
Eurosatory 2026: Milrem Robotics puts forward multi-layered defence concept for NATO's eastern flank
Autonomous systems developer Milrem has evolved a model for an interoperable robotised approach to the Eastern Flank Deterrence Initiative (EFDI), showing how uncrewed systems could provide a multi-layered defence architecture in the air and on land along NATO’s eastern borders.
-
![Eurosatory 2026 to highlight changing defence and security priorities]()
Eurosatory 2026 to highlight changing defence and security priorities
Eurosatory 2026 will reflect a defence and security sector shaped by conflict, rising government spending, uncrewed systems, multidomain networks and growing demand for sovereign capabilities.
-
![Delays, departures and drama cloud UK defence programmes ahead of absent DIP]()
Delays, departures and drama cloud UK defence programmes ahead of absent DIP
The UK defence secretary’s departure suggests that the long-delayed Defence Investment Plan is unlikely to meet the funding demands of the armed forces, with consequences for procurement and the UK’s standing at a NATO summit weeks away.
-
![Agile, sovereign, edge-ready: rewiring defence IT for a contested decade]()
Agile, sovereign, edge-ready: rewiring defence IT for a contested decade
Today's rapidly changing security landscape means that armed forces can no longer treat their data in the same way as in the past. What are the key challenges they face, and how can industry help them?
-
![US lawmakers prepare a historic investment in stockpile replenishment in FY2027]()
US lawmakers prepare a historic investment in stockpile replenishment in FY2027
The House Armed Services Committee recently released the Chairman’s NDAA FY2027 markup, which supports the Pentagon’s request for nearly $90 billion for long-range missiles, air defence interceptors, precision-guided munitions and industrial baseline items.
