{"id":2203195,"date":"2023-12-22T19:57:54","date_gmt":"2023-12-22T10:57:54","guid":{"rendered":"https:\/\/koreapro.org\/?p=2203195"},"modified":"2023-12-25T16:40:29","modified_gmt":"2023-12-25T07:40:29","slug":"seouls-ambitious-five-year-defense-plan-confronts-difficult-financial-realities","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/12\/seouls-ambitious-five-year-defense-plan-confronts-difficult-financial-realities\/","title":{"rendered":"Seoul\u2019s ambitious five-year defense plan confronts difficult financial realities"},"content":{"rendered":"
South Korea\u2019s 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.\u00a0<\/span><\/p>\n But only two weeks after <\/span>its introduction<\/span><\/a>, the plan\u2019s feasibility is already in doubt.<\/span><\/p>\n The Yoon Suk-yeol administration\u2019s Intermediate-Term National Defense Plan (<\/span>ITNDP<\/span><\/a>) calls for the government to heavily invest in advanced technology to address emerging regional and global asymmetric threats.\u00a0<\/span><\/p>\n To achieve this goal, the plan proposes a substantial increase in defense spending and an accelerated timeline for acquiring new military assets and improving welfare for junior officers by 2028.<\/span><\/p>\n This rapid development trajectory, a marked change from Yoon\u2019s earlier pledges, introduces complex challenges in resource allocation and effective budget management, and for the ITNDP to succeed, South Korea will need to navigate significant financial hurdles.<\/span><\/p>\n There are already signs of strain, with the government forced to cut its defense budget for 2024 on Thursday.<\/span><\/p>\n This <\/span>fiscal tightening<\/span><\/a> runs counter to the defense ministry\u2019s extensive spending ambitions and highlights potential <\/span>problems<\/span><\/a> in the administration\u2019s overall budget planning strategy.<\/span><\/p>\n