Denmark Announces Major Increase in Defense Spending... "More Serious Than During the Cold War"

Denmark has declared a 'rearmament' and announced a significant increase in defense spending.

Reuters Yonhap News

On the 18th (local time), Danish Prime Minister Mette Frederiksen stated in a parliamentary speech, "We must undertake large-scale rearmament to avoid war."

Prime Minister Frederiksen emphasized that the security situation is "more severe than during the Cold War" and that rearmament must be carried out very swiftly. She announced plans to grant defense authorities decision-making power to procure weapons quickly on an accelerated schedule. However, she did not specify the exact scale of the increase.

Local public broadcaster DR reported that the Danish government is expected to announce the establishment of a fund worth $7 billion (approximately 10 trillion won) for additional defense spending in 2025-2026.

If the fund is established, Denmark's defense spending is expected to increase to about 3% of its Gross Domestic Product (GDP), according to the Danish daily Berlingske.

Denmark has traditionally been known as one of the EU's 'Frugal Four' along with Austria, Sweden, and the Netherlands. However, amid rising security concerns, it is taking a different approach than before.

According to the North Atlantic Treaty Organization (NATO), Denmark's defense spending was only about 1.1?1.3% of GDP until 2022. In 2023, the year following the outbreak of the Ukraine war, Denmark increased its defense spending to 2.01%, achieving NATO's target of 2% for the first time. Last year, it recorded 2.37%.

Amid ongoing discussions at the European Union (EU) level on ways to help member states increase defense spending, Denmark appears open to issuing EU joint bonds, a stance different from its previously cautious position. Bloomberg reported that Denmark is pushing for the relaxation of EU budget rules regarding fiscal deficits and debt ratios together with other member states.

Denmark is also one of the strongest supporters of Ukraine. According to the Danish Ministry of Foreign Affairs, the cumulative support amount since the outbreak of the war in February 2022 reached $7.52 billion (approximately 10.8 trillion won). Prime Minister Frederiksen warned that Russia's attempt to quickly agree to a ceasefire would "give it the opportunity to attack Ukraine again or other countries in Europe."