In 2023, South Korea's gross domestic expenditure on R&D in defense was 4.09 billion USD PPP. The forecasted data from 2024 to 2028 shows a steady increase, with values rising from 4.21 to 4.67 billion USD PPP.
Year-on-year variations exhibit:- 2024: 2.93%- 2025: 2.85%- 2026: 2.77%- 2027: 2.47%- 2028: 2.41%
The average compound annual growth rate (CAGR) over these five years is approximately 2.69%.
Future trends to watch for include advancements in defense technology, government policy changes, and potential shifts in geopolitical landscapes that could impact R&D funding and focus.
