S. Korea among world's top ten spenders on defense in 2017
- 5 years ago
한국, 2017년 국방비 392억 달러 지출••• 세계 10위
Staying with the topic of footing military bills.
South Korea was one of the world's top ten largest spenders in terms of defense costs in 2017.
That's according to the latest Global Defense Market Yearbook published on Wednesday.
Seoul was also the third biggest importer of American arms products from 2008 to 2017.
For details let's turn to our Kan Hyeong-woo.
On Wednesday, South Korea's Defense Agency for Technology and Quality published its annual analysis of the world market for defense products.
According to the 2018 Global Defense Market Yearbook, South Korea had the world's 10th biggest budget for defense in 2017 at 39 billion U.S. dollars. The United States topped the list at 610 billion dollars, followed by China and Saudi Arabia. South Korea's defense spending took up about 14 percent of its national budget for 2017,... a 5-billion-dollar increase from the previous year.
From 2008 to 2017, China saw the highest rate of growth in defense spending with an increase of 110 percent. India and Russia followed with 45 percent and 36 percent , respectively.
The world's biggest arms exporter over that period was the U.S.,... selling 90 billion dollars worth of weapons. South Korea was the world's third-largest importer of American weapons with a total of 6-point-7 billion dollars, showing Seoul's heavy reliance on its ally's military products for its national defense.
The defense market yearbook did not itemize each import or export product,... but South Korea has purchased major defense platforms from U.S. manufacturers including Lockheed Martin's F-35A stealth fighter jets and Boeing's P-8 maritime patrol aircraft.
Kan Hyeong-woo, Arirang News
Staying with the topic of footing military bills.
South Korea was one of the world's top ten largest spenders in terms of defense costs in 2017.
That's according to the latest Global Defense Market Yearbook published on Wednesday.
Seoul was also the third biggest importer of American arms products from 2008 to 2017.
For details let's turn to our Kan Hyeong-woo.
On Wednesday, South Korea's Defense Agency for Technology and Quality published its annual analysis of the world market for defense products.
According to the 2018 Global Defense Market Yearbook, South Korea had the world's 10th biggest budget for defense in 2017 at 39 billion U.S. dollars. The United States topped the list at 610 billion dollars, followed by China and Saudi Arabia. South Korea's defense spending took up about 14 percent of its national budget for 2017,... a 5-billion-dollar increase from the previous year.
From 2008 to 2017, China saw the highest rate of growth in defense spending with an increase of 110 percent. India and Russia followed with 45 percent and 36 percent , respectively.
The world's biggest arms exporter over that period was the U.S.,... selling 90 billion dollars worth of weapons. South Korea was the world's third-largest importer of American weapons with a total of 6-point-7 billion dollars, showing Seoul's heavy reliance on its ally's military products for its national defense.
The defense market yearbook did not itemize each import or export product,... but South Korea has purchased major defense platforms from U.S. manufacturers including Lockheed Martin's F-35A stealth fighter jets and Boeing's P-8 maritime patrol aircraft.
Kan Hyeong-woo, Arirang News