South Korea Military Expenditure (USD)
$47.6B▼ −$230.5M
Dec 2024 · Annual
South Korea's military expenditure fell to $47.57 billion in 2024 from $47.80 billion in 2023. The figure remains below the all-time high of $50.87 billion reached in 2021. Data are available from 1960 onwards.
| Actual | Previous | Highest | Lowest | Dates | Frequency |
|---|---|---|---|---|---|
| $47.6B | $47.8B | $50.9BDec 2021 | $132.1MDec 1965 | 1960 – 2024 | Annual |
Related indicators
| Indicator | Last | Previous | Highest | Lowest | Last updated | Frequency |
|---|---|---|---|---|---|---|
| Military Expenditure | 2.6% | 2.6% | 7.2% | 2.2% | Dec 2024 | Annual |
| GDP | $1.87T | $1.88T | $1.94T | $2.4B | Dec 2025 | Annual |
About this series
Military Expenditure (USD) in South Korea averaged $26.6B from 1960 until 2024, reaching an all-time high of $50.9B in Dec 2021 and a record low of $132.1M in Dec 1965. The series is reported yearly with history from 1960.
Military expenditure in current U.S. dollars covers all current and capital spending on armed forces, including peacekeeping, defense ministries, and military paramilitary forces. Reported annually, the series for South Korea spans from 1960 to the present.
Source & methodology
We use primary economic sources for every country. See our methodology page for how we source and verify this data.
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