Moon Jae-in is forging a path towards greater political autonomy and economic revitalisation.
South Korea’s military spending is significant by world standards, and has grown rapidly under the Moon Jae-in administration even while rapprochement with North Korea remains a priority. Although the rise in defence spending might be interpreted as a response to the North’s expanding nuclear capabilities and other regional threats, a deeper look suggests it might have more to do with internal dynamics and South Korea’s US alliance.
South Korea will spend more than 80 per cent of its 100 trillion won (US$91.9 billion) defence budget for the next five years on locally made weapons instead of imports. President Moon’s push for military spending may seem paradoxical in light of his efforts to improve relations with North Korea, yet South Korea’s liberal leaders have all generally increased defence spending with an emphasis on military modernisation. This is partly because they face more pressure than conservatives to display their commitment to defence, but there is also a deeper, more entrenched ideology that undergirds South Korean leaders’ order of priorities and ideas on spending.