Seoul: South Korea's defense ministry announced that the country's defense spending as a proportion of its GDP is notably high compared to other major U.S. allies. This statement follows the United States' recent call for its Asian allies to adopt a defense spending level of 5 percent of GDP, which it defines as the "global standard."

According to Yonhap News Agency, South Korea's defense budget for this year is 61.2 trillion won, equivalent to US$44.6 billion, representing 2.32 percent of its GDP. This figure reflects a 3.1 percent increase from the previous year. The defense ministry emphasized that South Korea maintains a high defense spending ratio in response to significant security challenges, including North Korea's nuclear and missile threats.

The ministry further stated that South Korea is committed to enhancing its defense capabilities to ensure the security of the Korean Peninsula and to contribute to regional peace and stability. Seoul's foreign ministry supported this perspective, noting the government's strategic increase in defense spending to fortify national defense capabilities in a challenging security environment.

A ministry official highlighted that defense spending decisions are based on comprehensive evaluations of the security landscape and fiscal conditions. Compared to other Asian and European nations, South Korea's defense spending as a percentage of GDP surpasses Japan's 1.16 percent, Britain's 2.21 percent, and Germany's 1.44 percent, as reported by the International Institute for Strategic Studies in 2023.

To align with the proposed 5 percent GDP threshold, South Korea would need to more than double its defense expenditure to approximately 132 trillion won. This discussion arises as U.S. Defense Secretary Pete Hegseth, during a Senate Armed Services Committee hearing, advocated for a "new standard" in allied defense spending globally, including in Asia. The Pentagon reaffirmed the stance, indicating that South Korea and other Asian allies are encouraged to meet this "global standard," a proposal initially championed by former U.S. President Donald Trump for European allies.