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
-
![Rheinmetall sales up by almost a quarter on wave of German spending]()
Rheinmetall sales up by almost a quarter on wave of German spending
Germany’s Rheinmetall released its 1H 2025 results on 7 August, continuing the strong growth of recent years. A particular highlight of the result’s presentation was the Skyranger air defence system for which the company is predicting sales of about US$8.2 billion from the German Government before the end of the year.
-
![Defence companies continue to ride procurement wave]()
Defence companies continue to ride procurement wave
Vehicle and technology companies are reporting substantial growth compared to the first half of 2024. Italy’s Fincantieri saw revenues jump 24% for the first half of the year compared to 2024 and Thales up 6.8% for the same period. General Dynamics reported second quarter revenue growth of 8.9% for the second quarter compared to last year and MilDef reported organic order intake growth of 58%.
-
![Singapore plots a way forward with new technology and formation reform]()
Singapore plots a way forward with new technology and formation reform
Singapore spends about 3.5% of GDP on defence and the section’s budget sits on high on the proportion of national spending. The country is investing in uncrewed technology, medium- and long-range fires and new submarines and ships with the hunt also on for new maritime patrol aircraft.
-
![World Defense Show promises bigger and better event for 2026]()
World Defense Show promises bigger and better event for 2026
At this year's IDEF in Istanbul, Shephard spoke to World Defense Show (WDS) CEO Andrew Pearcey about his event's strategic role in Saudi Arabia, its themes and new features for 2026 and how it has grown since its launch in 2022.
