Forecast: Gross Domestic Expenditure on R&D in Defence in South Korea

In 2023, South Korea’s Gross Domestic Expenditure on R&D in Defence stood at an actual value of 3.9 billion USD PPP, Constant. The forecasted data for the years 2024 to 2028 show a consistent upward trend in expenditure. Specifically, the values from 2024 to 2028 are projected to be 4.0, 4.1, 4.21, 4.3, and 4.4 billion USD PPP, Constant, respectively. The year-on-year percentage variation from 2023 to 2024 is approximately 2.56%, from 2024 to 2025 is 2.5%, from 2025 to 2026 is 2.68%, from 2026 to 2027 is 2.14%, and from 2027 to 2028 is 2.32%. The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is 2.44%.

Looking ahead, future trends to watch for include potential shifts in defense priorities, technological advancements in military R&D, and any geopolitical changes that could influence budget allocations. Monitoring these factors will be crucial for understanding how South Korea's defense R&D expenditure might evolve beyond 2028.