Key Market Indicators
Korean defence expenditure is expected to reach around $51 billion by 2026. This marks an increase of 1.8% year-on-year, compared to the previous five-year average of 3.8%. In 2021, South Korea was the 10th largest spender on defence in the world, behind Japan, which spent $45 billion. China, India, and Russia came in second, third, and fourth, respectively.
