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.
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
-
![US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule]()
US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule
The US government plans to accelerate production even further after achieving key B61-13 milestones months ahead of schedule, as the programme advances amid growing US-China strategic competition.
-
![New UK armed forces minister frames High North defence as vital to “homeland security”]()
New UK armed forces minister frames High North defence as vital to “homeland security”
The UK’s Minister for the Armed Forces Louise Sandher-Jones made her first appearance in the role before the House of Commons Defence Committee this week to highlight efforts to improve capability in the High North.
-
![Canada seeks to strengthen industrial ties with the US on classified programmes]()
Canada seeks to strengthen industrial ties with the US on classified programmes
Ottawa explores expanding defence-industrial cooperation with Washington into sensitive programmes, an approach that could reshape NORAD modernisation, strengthen North American supply chains and create new opportunities for defence contractors.
-
![UK’s latest defence robotics and autonomy competition looks to break new ground]()
UK’s latest defence robotics and autonomy competition looks to break new ground
The UK Ministry of Defence is backing early-stage, high-risk autonomy concepts that could redefine how military systems are developed and deployed.
