Forecast: R&D Budget for Security in South Korea

The R&D budget for security in South Korea saw fluctuations over the past decade, marked by both increases and decreases. In 2023, the budget stood at 14.16 units of total government support. Initially experiencing a decline from 2013 to 2015, the budget began to moderately climb through 2022. The most recent years, particularly from 2019 to 2023, showed minimal annual increases, with year-on-year growth stabilizing around 0.6-0.64%. This steadiness resulted in a low CAGR of 0.43% over the past five years.

Looking ahead, forecasts suggest a consistent growth pattern with an anticipated average annual increase of 0.43% leading to a 2.19% total growth over the next five years. While slight, this uptick signifies steady confidence in security R&D investment.

Future trends to watch for:

• Emergence of advanced security technologies driving new investment opportunities
• Government policies and international relations influencing budget allocations
• Integration of artificial intelligence in security measures