11 March 2024

South Korea increases funding for three-axis plan in 2024

by Jon Grevatt

South Korea defence budget, 2015–30. (Janes)

South Korea's Defense Acquisition Program Administration (DAPA) has announced a business plan for 2024 aimed at driving developments in military capability and boosting domestic defence innovation and exports.

DAPA said on 8 March that its ‘major business implementation plan for 2024' is a response to increased threats from North Korea and growing international defence industrial competition. The plan is supported by South Korea's 2024 new defence budget and its associated five-year funding plan.

Military capability will support the Republic of Korea (RoK) Armed Forces' continuing ‘three-axis' defence programme, which is focused on strike, air defence, and retaliation. DAPA said it will spend KRW6.99 trillion (USD5.27 billion) on the three-axis programme during 2024, which it said represents a 12% increase over 2023.

Key three-axis programmes in 2024 include the construction of batch two Sejong Daewang (KDX-3)-class guided-missile destroyers, and the development of new batch-three KSS-III submarines and a new low-altitude missile defence (LAMD) system, said DAPA.

DAPA said South Korea is progressing a total of 57 projects in 2024 under the three-axis plan and its associated elements.

DAPA said it will also invest KRW2.4 trillion to progress defence technology research and development (R&D) in 2024. This includes KRW650 billion for “strategic technologies” including artificial intelligence, unmanned systems, manned-unmanned teaming, quantum, space, sensors, propulsion, cyber as well as new materials.DAPA said it aims to increase funding for the development of strategic technologies to KRW3.3 trillion by 2027.

South Korea's Defense Acquisition Program Administration (DAPA) has announced a business plan for 20...

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