South Korea Targets 70% Carbon-Free Power by 2038, Emphasizes Nuclear and Renewable Energy

South Korea has outlined an ambitious plan to transform its energy sector, aiming to generate 70% of its electricity from carbon-free sources by 2038, a significant increase from the less than 40% recorded in 2023. This target was revealed in a draft blueprint of the nation’s energy strategy for the next 15 years, which was released on Friday.

The draft, which is still pending final government approval, includes maintaining the current plan to construct four additional nuclear power plants, raising the total to 30. Moreover, the blueprint sets an aggressive goal to more than triple the production of solar and wind power to 72 gigawatts by 2030, up from 23 gigawatts in 2022.

Under the leadership of President Yoon Suk Yeol, South Korea’s approach to energy focuses on balancing various sources to support sustainable growth. This strategy not only strengthens the country’s energy security by reducing reliance on imported fossil fuels but also supports its commitments to environmental sustainability.

The updated energy mix is projected to see the total power generation capacity rise to 157.8 gigawatts by 2038, up from 134.5 gigawatts at the end of 2022. This increase is expected to support the growing demands of South Korea’s expanding high-tech industries, including data centers and large-scale semiconductor production facilities.

In a significant environmental commitment, the plan includes replacing twelve coal-fired power plants that will reach 30 years of age by 2037 and 2038 with carbon-free alternatives like pumped-storage hydroelectricity and hydrogen power. However, the country will continue replacing other aged coal plants with facilities powered by liquefied natural gas as a transitional measure.

Additionally, the blueprint allocates 0.7 gigawatts of power generation capacity to the development of small modular reactors by 2038. This move is in anticipation of a rise in global demand for these types of reactors, highlighting South Korea’s proactive approach to both meeting its internal energy needs and positioning itself as a leader in the international nuclear energy market.

This comprehensive plan underscores South Korea’s strategic pivot towards a more sustainable and secure energy future, aiming to set a standard for others in the global transition to greener energy solutions.

Sources: AirGuide Business airguide.info, bing.com, reuters.com