South Korea Military Spending/Defense Budget 1960-2021

Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).
  • South Korea military spending/defense budget for 2019 was $43.89B, a 1.91% increase from 2018.
  • South Korea military spending/defense budget for 2018 was $43.07B, a 9.95% increase from 2017.
  • South Korea military spending/defense budget for 2017 was $39.17B, a 6.2% increase from 2016.
  • South Korea military spending/defense budget for 2016 was $36.89B, a 0.86% increase from 2015.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Billions of US $
United States $731.75B
Saudi Arabia $61.87B
France $50.12B
Germany $49.28B
United Kingdom $48.65B
Japan $47.61B
South Korea $43.89B
Italy $26.79B
Australia $25.91B
Canada $22.20B
Israel $20.46B
Spain $17.18B
Netherlands $12.06B
Poland $11.90B
Singapore $11.21B
Kuwait $7.71B
Norway $7.00B
Oman $6.73B
Sweden $5.92B
Greece $5.47B
Chile $5.18B
Switzerland $5.18B
Belgium $4.82B
Denmark $4.56B
Portugal $4.51B
Finland $3.97B
Austria $3.24B
Argentina $3.14B
New Zealand $2.93B
Czech Republic $2.91B
Hungary $1.90B
Slovak Republic $1.87B
Bahrain $1.40B
Uruguay $1.15B
Ireland $1.11B
Lithuania $1.08B
Croatia $1.01B
Latvia $0.71B
Estonia $0.66B
Slovenia $0.57B
Luxembourg $0.43B
Brunei $0.41B
Cyprus $0.40B
Trinidad and Tobago $0.17B
Malta $0.08B
Seychelles $0.02B
Iceland $0.00B
Panama $0.00B
South Korea Military Spending/Defense Budget - Historical Data
Year Billions of US $ % of GDP
2019 $43.89B 2.67%
2018 $43.07B 2.50%
2017 $39.17B 2.42%
2016 $36.89B 2.46%
2015 $36.57B 2.50%
2014 $37.55B 2.53%
2013 $34.31B 2.50%
2012 $31.95B 2.50%
2011 $30.99B 2.47%
2010 $28.18B 2.46%
2009 $24.58B 2.60%
2008 $26.07B 2.49%
2007 $27.73B 2.47%
2006 $25.18B 2.49%
2005 $22.16B 2.47%
2004 $17.83B 2.33%
2003 $15.85B 2.33%
2002 $14.10B 2.32%
2001 $12.94B 2.43%
2000 $13.80B 2.46%
1999 $12.10B 2.49%
1998 $10.46B 2.79%
1997 $14.85B 2.66%
1996 $16.41B 2.74%
1995 $16.09B 2.89%
1994 $13.52B 3.19%
1993 $12.38B 3.42%
1992 $11.61B 3.69%
1991 $10.96B 3.71%
1990 $10.11B 4.00%
1989 $9.47B 4.29%
1988 $7.73B 4.28%
1987 $6.04B 4.47%
1986 $5.33B 4.95%
1985 $4.88B 5.23%
1984 $4.76B 5.25%
1983 $4.71B 5.73%
1982 $4.65B 6.24%
1981 $4.46B 6.42%
1980 $3.98B 6.40%
1979 $3.54B 5.53%
1978 $3.19B 6.37%
1977 $2.24B 6.03%
1976 $1.71B 5.91%
1975 $1.03B 4.88%
1974 $0.85B 4.54%
1973 $0.54B 4.03%
1972 $0.53B 5.01%
1971 $0.46B 4.74%
1970 $0.39B 4.40%
1969 $0.35B 4.69%
1968 $0.28B 4.73%
1967 $0.22B 4.69%
1966 $0.18B 4.69%
1965 $0.13B 4.41%
1964 $0.14B 4.13%
1963 $0.19B 4.82%
1962 $0.19B 6.87%
1961 $0.16B 6.73%
1960 $0.28B 7.16%