Special Report: South Korea's defence budget to exceed USD50 billion for first time

Janes forecasts that South Korea's core defence budget is on track to exceed the equivalent of USD100 billion by the early 2030s. (Janes Defence Budgets)

South Korea's Ministry of National Defense (MND) has submitted a defence budget request of KRW73.27 trillion (USD53.9 billion) for 2027, representing an approximate 8% increase over the previous year.

The MND announced on 3 September that the 2027 defence budget is aimed at strengthening the Republic of Korea Armed Forces' self-reliant capabilities amid a changing security environment and declining military personnel resources.

Strategic capabilities

According to the MND, the 2027 defence budget aims to support Seoul's shift from a troop-centred military to one centred on advanced technologies.

“We will secure core capabilities early to accelerate the transfer of wartime operational control (OPCON) and expand key self-reliant defence forces such as KF-21s and nuclear-powered submarines, while also pursuing the reorganisation of the future military structure to address the decline in military personnel resources,” the MND said.

To support the transfer of wartime OPCON from the United States, South Korea has requested KRW12.17 trillion in the 2027 draft budget, a 35% increase from 2026.

According to the MND, the budget will support upgrades to air-ground radios and the establishment of a wartime military information distribution system for South Korea-US Combined Forces Command (CFC).

The proposed budget will also fund the early deployment of medium-altitude reconnaissance UAVs and long-range surface-to-air guided missiles (L-SAMs) to strengthen responses against North Korean nuclear and missile threats, the MND said.