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Home» News»South Korea’s CVX Aircraft Carrier Project Secures Last Minute Funding
MADEX 2021: HHI unveils new CVX Aircraft Carrier design
HHI unveiled a stunning CVX light aircraft carrier design at MADEX 2021

South Korea’s CVX Aircraft Carrier Project Secures Last Minute Funding

The National Assembly approved KRW 54.6 trillion (around USD 6.1 billion) for the defence budget in fiscal year 2022, a 3.4% increase from last year, at the December 3 plenary session. The Democratic party, which holds a majority of seats in the National Assembly, unanimously passed the new budget including funding requested by the Republic of Korea Navy (ROKN) for CVX next year.

Juho Lee 03 Dec 2021

National Assembly member Shin Won-sik was quoted as saying:

“Light aircraft carriers are unnecessary in our security environment. The light carrier gives us no substantive advantage in terms of military strategy and operations; the carrier will be nothing more than a  ‘money-eating hippopotamus’.”

Nevertheless, the KRW 7.2 billion (around USD 6.1 million) requested by the government for CVX development was approved after heated debates. KRW 6.2 billion (around USD 5.2 million) was allocated for preliminary design of CVX, KRW 0.85 billion (around USD 0.72 million) for aircraft-related expenses, and a further KRW 0.99 billion (around USD 0.84 million) for other CVX-related expenses. 

As part of its PR campaign to gain public support for CVX, the ROK Navy has been releasing several videos such as this one.

CVX is a contentious issue in South Korea; the ROKN had launched a fierce public relations campaign to convince the public and the National Assembly of the utility of the program. For now, this campaign seems to have been successful. The ROKN plans to proceed with the project as scheduled, beginning the preliminary design phase next year with the ultimate goal of making the carrier operational by 2033. 

The government had initially requested KRW 55.3 trillion (around USD 46.7 billion) for the defence budget in 2022. Despite gaining approval for CVX, funding for acquisition of new platforms was cut by KRW 644.5 billion (around USD 544 million). Several other ROKN programs have also been affected. The budget for PKX-B-II, a light patrol ship, and the special warfare operations support ship was cut by KRW 1.2 billion (USD 1 million) and KRW 2.24 billion (USD 1.9 million) respectively. 

Naval News will continue reporting on this issue as details emerge. 

CVX ROK Navy 2021-12-03
Tags CVX ROK Navy
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Authors

Posted by : Juho Lee
Juho Lee is a writer based in Seoul, South Korea. He served at a U.S. Army intelligence unit as a Korean Augmentee to the U.S. Army and is well versed in military affairs. He is currently majoring in International Studies and is particularly interested in North East Asian security and great power competition.

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