Does South Korea have a plan for long-term electricity supply & demand?

In February 2025, South Korea finalized its 11th Basic Plan for Long-Term Electricity Supply and Demand (BPLE). The plan makes some progress toward the country’s decarbonization goals, reflecting calls to reduce fossil fuel dependency in the power generation mix while increasing the use of carbon-neutral energy.

What are South Korea's Future plans?

One major aspect of the country’s future plans is promoting the offshore wind industry (OSW). South Korea aims to achieve 14.3 GW of OSW capacity by 2030, contributing to its broader net-zero emissions goal by 2050. Overall, grid integration is crucial to facilitate the country’s energy transition.

Does Korea need a shifted energy paradigm?

President and CEO of Korea Electric Power Corporation (KEPCO) However, we need a shifted energy paradigm towards giving priority to grid expansion to make that happen, as transmission lines cannot be reinforced in a short period of time.

Does Korea need a more stable grid system?

At the same time, the country needs to have a more stable grid system to deal with increased variability and reduction of system inertia. To lead this energy transition, Korea Electric Power Corporation (KEPCO) is mandated to build a specific blueprint envisaging the future of Korea’s grid.

What will Korea's electricity consumption be in 2036?

The Korean government forecasts that the country’s electricity consumption in 2036 would be 703TWh which is 1.7% average annual increase from that in 2021. With the growing demand, the country plans to expand renewable energy up to 30% which used to account for only 6.3% of the total national power generation in 2021.

Does Korea have a power grid?

Unlike the European grids that provide a cross-border power transmission interface, Korea’s power grid is completely isolated and lacks interconnection with that of neighboring countries, which gives a huge disadvantage.