Forecast: Defence Expenditure by Central Governement in South Korea

The South Korean government's defense expenditure for 2024 is forecasted to be 13.04 (value/volume not specified). This is a slight decrease compared to 2023. For the subsequent years, the values remain relatively constant, showing a gradual and minimal decline till 2028. Specifically, the defense expenditure for 2025 is projected to be 13.03, followed by 13.02 in 2026, 13.02 again in 2027, and remains at 13.02 through 2028. The stable yet slightly decreasing trend indicates a cautious approach towards defense spending over the next five years.

Year-on-year variation over the past two years shows a marginal decrease, signaling a controlled expenditure strategy. The compound annual growth rate (CAGR) over the next five years suggests an overall average yearly decrease, pointing to a consistent prioritization in budget allocations.

Future trends to watch for:

• Geopolitical developments in East Asia that could prompt a change in defense expenditure.
• Technological advancements and military modernization programs.
• Shifts in government policy or changes in the political landscape.