Forecast: Defence Budget on R&D in South Korea

The defence budget for R&D in South Korea from 2013 to 2023 shows a modest growth trajectory, beginning at 14.78 units in 2013 and reaching 15.8 units in 2023. The annual change shows fluctuations, with notable increases in 2017 (7.04%) and 2018 (5.44%), and a decrease in 2021 (-5.86%). The Compound Annual Growth Rate (CAGR) over the last five years stands at -0.018%, indicating a nearly stable trend. Forecasts from 2024 to 2028 suggest minor annual increments, culminating in 15.84 units by 2028, with a forecasted CAGR of 0.03%.

Future trends to watch for:

• Continuous moderate increases in the R&D budget, with consistent growth around 0.01 to 0.02 units annually.
• Potential impacts of geopolitical tensions influencing budget allocations.
• Technological advancements driving higher future budgetary needs.