Military expenditure in South Korea
South Korea: Military expenditure was 47.57 billion current USD in 2024. ◆ Volatile
Latest (2024)
47.57 billion current USD
Change on year
down 0.5%
World rank
11th
of 168 countries
All-time high
50.87 billion current USD
in 2021
All-time low
132.13 million current USD
in 1965
Years of data
65
1960–2024
Military expenditure in South Korea, 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current USD.
Analysis
The most recent figure for military expenditure in South Korea is 47.57 billion current USD, measured in 2024.
That represents a change of down 0.5% on the previous year and up 26.7% over ten years.
Over the whole period, military expenditure in South Korea peaked at 50.87 billion current USD in 2021 and was at its lowest, 132.13 million current USD, in 1965.
South Korea ranks 11th of 168 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Military expenditure in South Korea, year by year
| Year | current USD | Change |
|---|---|---|
| 1960 | 275.64 million current USD | — |
| 1961 | 157.06 million current USD | -43.0% |
| 1962 | 186.15 million current USD | +18.5% |
| 1963 | 185.38 million current USD | -0.4% |
| 1964 | 137.48 million current USD | -25.8% |
| 1965 | 132.13 million current USD | -3.9% |
| 1966 | 176.90 million current USD | +33.9% |
| 1967 | 218.10 million current USD | +23.3% |
| 1968 | 278.70 million current USD | +27.8% |
| 1969 | 347.03 million current USD | +24.5% |
| 1970 | 386.40 million current USD | +11.3% |
| 1971 | 460.90 million current USD | +19.3% |
| 1972 | 531.95 million current USD | +15.4% |
| 1973 | 544.78 million current USD | +2.4% |
| 1974 | 852.96 million current USD | +56.6% |
| 1975 | 1.03 billion current USD | +20.9% |
| 1976 | 1.71 billion current USD | +65.7% |
| 1977 | 2.24 billion current USD | +31.0% |
| 1978 | 3.19 billion current USD | +42.6% |
| 1979 | 3.54 billion current USD | +11.1% |
| 1980 | 3.98 billion current USD | +12.3% |
| 1981 | 4.46 billion current USD | +12.1% |
| 1982 | 4.65 billion current USD | +4.1% |
| 1983 | 4.71 billion current USD | +1.5% |
| 1984 | 4.76 billion current USD | +1.0% |
| 1985 | 4.88 billion current USD | +2.6% |
| 1986 | 5.33 billion current USD | +9.0% |
| 1987 | 6.04 billion current USD | +13.4% |
| 1988 | 7.73 billion current USD | +28.0% |
| 1989 | 9.47 billion current USD | +22.5% |
| 1990 | 10.11 billion current USD | +6.8% |
| 1991 | 10.96 billion current USD | +8.4% |
| 1992 | 11.61 billion current USD | +6.0% |
| 1993 | 12.38 billion current USD | +6.6% |
| 1994 | 13.52 billion current USD | +9.2% |
| 1995 | 16.09 billion current USD | +19.0% |
| 1996 | 16.41 billion current USD | +2.0% |
| 1997 | 14.85 billion current USD | -9.5% |
| 1998 | 10.46 billion current USD | -29.6% |
| 1999 | 12.10 billion current USD | +15.7% |
| 2000 | 13.80 billion current USD | +14.1% |
| 2001 | 12.94 billion current USD | -6.2% |
| 2002 | 14.10 billion current USD | +9.0% |
| 2003 | 15.85 billion current USD | +12.4% |
| 2004 | 17.83 billion current USD | +12.5% |
| 2005 | 22.16 billion current USD | +24.3% |
| 2006 | 25.18 billion current USD | +13.6% |
| 2007 | 27.73 billion current USD | +10.1% |
| 2008 | 26.07 billion current USD | -6.0% |
| 2009 | 24.58 billion current USD | -5.7% |
| 2010 | 28.18 billion current USD | +14.6% |
| 2011 | 30.99 billion current USD | +10.0% |
| 2012 | 31.95 billion current USD | +3.1% |
| 2013 | 34.31 billion current USD | +7.4% |
| 2014 | 37.55 billion current USD | +9.4% |
| 2015 | 36.57 billion current USD | -2.6% |
| 2016 | 36.89 billion current USD | +0.9% |
| 2017 | 39.17 billion current USD | +6.2% |
| 2018 | 43.07 billion current USD | +10.0% |
| 2019 | 44.10 billion current USD | +2.4% |
| 2020 | 46.12 billion current USD | +4.6% |
| 2021 | 50.87 billion current USD | +10.3% |
| 2022 | 46.37 billion current USD | -8.9% |
| 2023 | 47.80 billion current USD | +3.1% |
| 2024 | 47.57 billion current USD | -0.5% |
South Korea compared with similar countries
- South Korea's 47.57 billion current USD is above the median for high income countries, which is 6.62 billion current USD, 7.2× the median. (54 countries reporting)
- South Korea's 47.57 billion current USD is above the median for East Asia & Pacific, which is 4.66 billion current USD, 10.2× the median. (20 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 209.46 million current USD | 132.13 million current USD | 347.03 million current USD | 10 |
| 1970s | 1.45 billion current USD | 386.40 million current USD | 3.54 billion current USD | 10 |
| 1980s | 5.60 billion current USD | 3.98 billion current USD | 9.47 billion current USD | 10 |
| 1990s | 12.85 billion current USD | 10.11 billion current USD | 16.41 billion current USD | 10 |
| 2000s | 20.02 billion current USD | 12.94 billion current USD | 27.73 billion current USD | 10 |
| 2010s | 36.28 billion current USD | 28.18 billion current USD | 44.10 billion current USD | 10 |
| 2020s | 47.75 billion current USD | 46.12 billion current USD | 50.87 billion current USD | 5 |
Countries ranked near South Korea
More public sector data for South Korea
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is military expenditure in South Korea?
- Military expenditure in South Korea was 47.57 billion current USD in 2024, according to SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI).
- What is the highest military expenditure recorded in South Korea?
- The highest recorded value was 50.87 billion current USD in 2021.
- What is the lowest military expenditure recorded in South Korea?
- The lowest recorded value was 132.13 million current USD in 1965.
- How does South Korea rank for military expenditure?
- South Korea ranks 11th out of 168 countries with data for 2024.
- Is military expenditure rising or falling in South Korea?
- Over the last ten years it is up 26.7%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), published as part of Military expenditure (current USD). Statizoid updates them automatically from the source API.
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About this data
Military spending USD, in current prices (converted at the exchange rate for the given year)