South Korea Military Spending/Defense Budget 1960-2024

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 2021 was $50.23B, a 10.33% increase from 2020.
  • South Korea military spending/defense budget for 2020 was $45.52B, a 3.72% increase from 2019.
  • 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.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Billions of US $
United States $800.67B
United Kingdom $68.37B
France $56.65B
Germany $56.02B
Saudi Arabia $55.56B
Japan $54.12B
South Korea $50.23B
Italy $32.01B
Australia $31.75B
Canada $26.45B
Israel $24.34B
Spain $19.54B
Netherlands $13.75B
Poland $13.71B
Qatar $11.59B
Singapore $11.12B
Kuwait $9.02B
Norway $8.25B
Greece $8.08B
Sweden $7.89B
Belgium $6.31B
Chile $6.23B
Finland $5.90B
Oman $5.78B
Switzerland $5.74B
Denmark $5.39B
Portugal $4.91B
Czech Republic $3.94B
Austria $3.83B
New Zealand $3.39B
Hungary $2.78B
Argentina $2.59B
Slovak Republic $1.98B
Croatia $1.74B
Bahrain $1.38B
Ireland $1.27B
Uruguay $1.26B
Lithuania $1.24B
Latvia $0.83B
Estonia $0.76B
Slovenia $0.73B
Cyprus $0.52B
Luxembourg $0.46B
Brunei $0.45B
Trinidad and Tobago $0.21B
Malta $0.08B
Seychelles $0.02B
Panama $0.00B
Iceland $0.00B
South Korea Military Spending/Defense Budget - Historical Data
Year Billions of US $ % of GDP
2021 $50.23B 2.78%
2020 $45.52B 2.78%
2019 $43.89B 2.66%
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%