Seoul’s ambitious five-year defense plan confronts difficult financial realities



Analysis Seoul’s ambitious five-year defense plan confronts difficult financial realities South Korea wants to invest staggering $268B to bolster military, but there are already signs of budgetary strain Jeongmin KimDecember 22, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON An Illustration of a Korean man next to a pile of money \| Image: Korea Pro South Korea’s new five-year defense plan allocates a staggering $268 billion (348.7 trillion won) for defense spending in an ambitious bid to bolster defense readiness. But only two weeks after its introduction, the plan’s feasibility is already in doubt. South Korea’s new five-year defense plan allocates a staggering $268 billion (348.7 trillion won) for defense spending in an ambitious bid to bolster defense readiness. But only two weeks after its introduction, the plan’s feasibility is already in doubt. Get 30 days of free access to KoreaPro Full access to all analysis The KOREA PRO newsletter, every business day Daily analysis on the top story of the day The ability to suggest topics for coverage by our specialist team Be smart about South Korea Get full access to expert analysis and opinion. Start now No charges during your trial. Cancel anytime. A paid subscription will start after 30 days. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Briefing Start your day with the South Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily Briefing. LATEST ANALYSIS 01South Korea’s women-only universities weigh co-education as enrollments decline 02South Korea targets semiconductor self-reliance for national defense 03Employment for married South Korean women hits record but Devil is in details 04Trump’s return forces South Korea’s defense industry to adapt to new realities 05Lee Jae-myung verdict disrupts South Korea’s opposition party and 2027 election 06South Korea grapples with how to stymie crypto-fueled drug trade 07Science vs. Humanities: Why South Korean students switch their academic tracks 08How pro-Russian hackers took down South Korea websites over support for Ukraine

Analysis

Seoul’s ambitious five-year defense plan confronts difficult financial realities

South Korea wants to invest staggering $268B to bolster military, but there are already signs of budgetary strain

Jeongmin KimDecember 22, 2023

Seoul’s ambitious five-year defense plan confronts difficult financial realities

An Illustration of a Korean man next to a pile of money | Image: Korea Pro

South Korea’s new five-year defense plan allocates a staggering $268 billion (348.7 trillion won) for defense spending in an ambitious bid to bolster defense readiness.

But only two weeks after its introduction, the plan’s feasibility is already in doubt.

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The KOREA PRO newsletter, every business day
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LATEST ANALYSIS

01South Korea’s women-only universities weigh co-education as enrollments decline
02South Korea targets semiconductor self-reliance for national defense
03Employment for married South Korean women hits record but Devil is in details
04Trump’s return forces South Korea’s defense industry to adapt to new realities
05Lee Jae-myung verdict disrupts South Korea’s opposition party and 2027 election
06South Korea grapples with how to stymie crypto-fueled drug trade
07Science vs. Humanities: Why South Korean students switch their academic tracks
08How pro-Russian hackers took down South Korea websites over support for Ukraine

Seoul’s ambitious five-year defense plan confronts difficult financial realities

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Jeongmin Kim

Seoul’s ambitious five-year defense plan confronts difficult financial realities

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