MILITARY SPENDING AND THE ARMS RACE ON THE KOREAN PENINSULA

The two Koreas have failed to produce any meaningful achievements in military confidence-building measures, arms control, and arms reduction. Moreover, South Korea's continued competitive edge over the North in conventional weapons capability has driven North Korea to mitigate its inferiority by pursuing the dangerous course of nuclear armament. This article attempts to understand the evolving nature of military spending and the arms race on the Korean peninsula. The first section analyzes and evaluates the dynamics of military spending and the arms race. The second section empirically compares patterns of military spending between the two Koreas, while the third compares their conventional defense capabilities. The article then traces how the arms race in conventional weapons has escalated into new dimensions of military confrontation involving North Korea's nuclearization and South Korea's countervailing measures. Finally, the determinants of military spending and the arms race on the Korean peninsula are examined and ways are suggested to manage them.