Forecast: R&D Budget for Defence in South Korea

The R&D budget for defense in South Korea has shown fluctuations over the past decade. From 2013 to 2017, the budget experienced a mix of slight declines and increases, notably peaking in 2017 at 15 Total GBARD units. From 2018 to 2023, the budget continued to rise steadily, reaching 15.8 units in 2023, reflecting a moderate but positive growth trajectory. However, a dip was observed in 2021, with a 5.86% decrease compared to the previous year, indicating volatility. The CAGR over the past five years stands at -0.018%, suggesting a near-stagnant growth in recent years. Forecasts from 2024 to 2028 predict a minimal increase, with the budget stabilizing around 15.84 units by 2028.

Future trends to watch for include potential shifts in geopolitical dynamics influencing budget allocations, advancements in defense technology requiring higher investments, and policy changes impacting R&D funding. Monitoring these factors will be critical in understanding upcoming fluctuations and growth patterns in South Korea's defense R&D budget.