Post - Articles
A proposed energy U-turn by South Korea’s new government would put the environment at the centre of energy policy, shifting away from coal towards natural gas and renewables. This could have a big impact on both coal and LNG imports. South Korea is currently the world’s fourth largest importer of coal, and the world’s second largest importer of LNG.
World Future Energy Summit (WFES) 2025
The plan by the new administration is responding to public concerns over air pollution and nuclear safety. South Korea, Asia’s fourth largest economy, currently gets 70 per cent of its energy from coal and nuclear, and offers tax benefits to both sectors.
Dr Paik Ungyu, an energy engineering professor at Hanyang University and advisor on energy policy to President Moon, said that the government hopes to boost gas-fired generation from about 18 per cent currently used to 27 per cent by 2030, and to boost the use of renewables, currently standing at 5 per cent, to 20 per cent by 2030.
President Moon has ordered a temporary halt to the use of 10 old coal-fired power plants, and has outlined plans for their permanent closure. He also pledged during his election campaign to review existing plans to build nine new coal-fired power plants and eight nuclear reactors.