South Korea looks boldly ahead in mid-term plan
On 10 August, South Korea’s Ministry of National Defense (MND) released a KRW300 trillion ($253 billion) blueprint for defence spending over the coming five years, including big-ticket items such as a light aircraft carrier.
The Mid-Term Defence Plan demands an average annual increase in defence expenditure of 6.1% from 2021-25. This means the nation’s annual defence budget will rise from $41 billion to $56 billion by 2025.
The plan lists spending of approximately $82 billion on developing and acquiring new weapons and equipment, accounting for a third of all the spending. The remainder of the budget goes on force sustainment.
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![What will next-gen counter-UAS capabilities for the US look like?]()
What will next-gen counter-UAS capabilities for the US look like?
Future US counter-uncrewed aerial system solutions are likely to require a flexible, multi-layered approach to tackle a broad spectrum of new threats as they emerge.
-
![Elbit Systems awarded $2.3 billion contract as results soar]()
Elbit Systems awarded $2.3 billion contract as results soar
The company’s order backlog as of 30 September totalled $25.2 billion and more than a third of this is scheduled to be fulfilled before the end of 2026.
-
![US military foresees growing use of 3D printing]()
US military foresees growing use of 3D printing
Advanced manufacturing has evolved to meet military requirements and now supports multiple US critical assets, including Arleigh Burke-class destroyers, F-18, F-22, F-35, Bradley, HMMWV and Patriot.
-
![Irish Naval Service expands as the country looks to defence during EU presidency]()
Irish Naval Service expands as the country looks to defence during EU presidency
The Irish Naval Service has struggled to maintain capability, particularly in the face of lucrative private sector offers luring away personnel.
