South Korea: Military spending

The latest value from 2024 is 47.57 billion U.S. dollars, a decline from 47.8 billion U.S. dollars in 2023. In comparison, the world average is 17.79 billion U.S. dollars, based on data from 148 countries. Historically, the average for South Korea from 1960 to 2024 is 15.43 billion U.S. dollars. The minimum value, 0.13 billion U.S. dollars, was reached in 1965 while the maximum of 50.87 billion U.S. dollars was recorded in 2021. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Military spending includes expenditure on peacekeeping, defense ministries, paramilitary forces, and military space activities. Also: military and civil personnel, including retirement pensions; operations and maintenance; procurement; military research and development; and military aid. Defense and current expenditure for past military activities, such as for veterans' benefits, demobilization, conversion, and weapon destruction, are not included.