Electricity in South Korea in 2023

In 2023, South Korea's electricity consumption heavily relies on fossil fuels, with more than 61% of electricity generated from coal, gas, and oil. Coal and gas are the major contributors within this category, generating over 32% and 27% respectively, while oil contributes close to none at about 1%. Low-carbon or clean energy sources provide the remaining 38% of the nation's electricity. Among these, nuclear power is the dominant source, generating nearly 29%, while solar energy and other sources like geothermal and biofuels account for about 8% collectively.

Suggestions

To increase its share of low-carbon electricity, South Korea can expand its existing nuclear infrastructure given its significant contribution to green energy. By learning from countries with high percentages of clean energy, South Korea can adopt similar strategies to boost its low-carbon generation. For instance, France and Slovakia generate 65% and 62% of their electricity from nuclear power, respectively, showcasing a successful model of nuclear energy dominance. Additionally, South Korea can look into scaling up wind power by studying Denmark and Ireland, where wind contributes significantly to the electricity mix, at 53% and 32% respectively.

History

South Korea's history with low-carbon electricity has seen various shifts, especially in the nuclear sector. In the late 1980s and throughout the 1990s, nuclear power consistently increased, with notable rises in 1986 and 1999 by around 12 TWh and 13 TWh, respectively. The early 2000s experienced ups and downs, but major growths were recorded in 2005 and 2014, with increases of over 16 TWh and 17 TWh respectively. However, the mid-2010s saw significant declines in nuclear electricity, particularly in 2013, 2017, and 2018, with drops of over 11 TWh, 13 TWh, and nearly 15 TWh. This fluctuated in recent years, but by 2022, nuclear power saw a substantial resurgence with an 18 TWh increase. Solar power has also seen growth, especially in 2020 with a 6.3 TWh increase.

Electricity Imports and Exports

Balance of Trade

Data Sources