Based on the forecasted data, the Government Expenditure on R&D in Defence in South Korea is expected to grow steadily from 2024 through 2028. In 2023, this expenditure stood at 2.45 Billion US Dollars PPP, Constant. The forecast illustrates consistent year-on-year increases: 2.78% from 2023 to 2024, 2.78% from 2024 to 2025, 2.32% from 2025 to 2026, 2.26% from 2026 to 2027, and 2.21% from 2027 to 2028.
Variations:
- 2024: 2.78%
- 2025: 2.78%
- 2026: 2.32%
- 2027: 2.26%
- 2028: 2.21%
The Compound Annual Growth Rate (CAGR) over the last five years is projected at approximately 2.47% per year.
Future trends to watch for include potential impacts from geopolitical tensions in the region, technological advancements, and budget reallocations by the South Korean government. Increasing collaboration with international defense organizations and heightened focus on cybersecurity could also influence future R&D expenditure.
