South Korea plans to start a shift away from thermal and nuclear power generation towards a larger proportion of renewable energy, aiming to reach 40 per cent share by renewable energy by 2034, up from the current 15 per cent.
During this period, the share of LNG-fired plants is expected to be maintained at 32 per cent, while all coal-fired power plants will be shut down. The South Korean Government plans to convert half of these operational coal-based facilities into LNG plants.
The 2020-2034 plan will also see the closure of nine nuclear power units, bringing the energy share of nuclear power in South Korea to 10 per cent by the end of this period. It is expected South Korea will require 104GW of capacity by 2034.