Military expenditure in South Korea
South Korea: Military expenditure was 64.88 trillion current LCU in 2024. ◆ Volatile
Military expenditure in South Korea, 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current LCU.
Analysis
In 2024, military expenditure in South Korea stood at 64.88 trillion current LCU. That is the highest value across all 65 years on record.
That represents a change of up 4.0% on the previous year and up 64.1% over ten years.
Over the whole period, military expenditure in South Korea peaked at 64.88 trillion current LCU in 2024 and was at its lowest, 17.40 billion current LCU, in 1960.
South Korea ranks 5th of 167 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 43.40 billion current LCU | 17.40 billion current LCU | 100.00 billion current LCU | 10 |
| 1970s | 671.90 billion current LCU | 120.00 billion current LCU | 1.72 trillion current LCU | 10 |
| 1980s | 4.23 trillion current LCU | 2.42 trillion current LCU | 6.36 trillion current LCU | 10 |
| 1990s | 11.38 trillion current LCU | 7.16 trillion current LCU | 14.66 trillion current LCU | 10 |
| 2000s | 22.19 trillion current LCU | 15.61 trillion current LCU | 31.38 trillion current LCU | 10 |
| 2010s | 40.75 trillion current LCU | 32.57 trillion current LCU | 51.41 trillion current LCU | 10 |
| 2020s | 59.95 trillion current LCU | 54.40 trillion current LCU | 64.88 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
- Arms imports 1.01 billion SIPRI trend indicator values (2024)
- Tax revenue 13.3% (2024)
- Taxes on income, profits and capital gains 27.5% (2024)
- Taxes on goods and services 17.0% (2024)
- Net investment in nonfinancial assets 1.3% (2024)
- Net lending (+) / net borrowing (-) -1.8% (2024)
- Interest payments 5.3% (2024)
- Grants and other revenue 19.8% (2024)
- Interest payments 4.4% (2023)
- Other taxes 4.7% (2024)
Frequently asked questions
- What is military expenditure in South Korea?
- Military expenditure in South Korea was 64.88 trillion current LCU 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 64.88 trillion current LCU in 2024.
- What is the lowest military expenditure recorded in South Korea?
- The lowest recorded value was 17.40 billion current LCU in 1960.
- How does South Korea rank for military expenditure?
- South Korea ranks 5th out of 167 countries with data for 2024.
- Is military expenditure rising or falling in South Korea?
- Over the last ten years it is up 64.1%. 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 LCU). Statizoid updates them automatically from the source API.
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CSV · JSON — 65 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Military expenditure in local currency at current prices (by calendar year)