Seoul: In a decisive move to strengthen national security, South Korean President Lee Jae Myung announced on Wednesday that the country’s defense budget for 2026 will rise by 8.2%, reaching 66.3 trillion won (approximately $47.1 billion). Speaking on the occasion of South Korea's 77th Armed Forces Day in Gyeryong, President Lee stressed that lasting peace is attainable only on a solid foundation of security.
Addressing the challenges posed by a shifting global landscape, Lee noted, “The momentum for cooperation and shared prosperity is weakening across the world, and we are entering an era of increased conflict, where it’s every man for himself.” He underscored that South Korea must focus on self-reliance to secure its peace and prosperity.
The planned budget expansion will prioritize cutting-edge technologies such as drones and robotics, reflecting a strategic shift toward modernization and enhanced self-defense capabilities. President Lee also highlighted that South Korea’s defense expenditure already exceeds North Korea’s entire gross domestic product by 1.4 times, signaling the country’s substantial investment in its military readiness.
Since assuming office in June following a snap election, President Lee has pursued engagement with North Korea while calling for a restoration of public trust in the armed forces. “An army meant to protect the people must never repeat pointing its guns at them,” Lee stated, referring to past incidents that had tarnished the military’s reputation.
The announcement marks a critical juncture for South Korea’s defense strategy, emphasizing technological innovation, self-reliance, and a proactive approach to ensuring national and regional stability amid rising uncertainties in international relations.