Electricity in South Korea in 2023/2024

Currently, South Korea’s electricity consumption reveals a significant dependency on fossil fuels, with more than half (around 58%) of its electricity coming from these sources in the past 12 months—from October 2023 to September 2024. In this time frame, coal and gas, together, make up a large portion of the fossil fuel-based electricity generation, contributing approximately 30% and 27%, respectively. On the other hand, low-carbon sources, which include nuclear, solar, biofuels, and hydropower, collectively generate around 41% of South Korea’s electricity. Notably, nuclear energy alone represents almost a third of the total electricity supply, making it the most substantial low-carbon source, while solar energy contributes over 6%, with biofuels and hydropower providing close to none.

Suggestions

To address climate change and air pollution, South Korea can significantly increase its low-carbon electricity generation by expanding its already notable nuclear infrastructure. This strategy aligns with global best practices observed in countries with high levels of nuclear energy use, such as France and Slovakia, where nuclear power accounts for 68% and 60% of electricity generation, respectively. Additionally, observing Denmark's prowess in wind energy, which comprises 59% of its electricity, South Korea could also consider growing its wind capacity. Learning from these countries, South Korea can gradually shift its reliance on fossil fuels and bolster its efforts in sustainable electricity, particularly through nuclear and potentially wind energy expansion, which are both efficient and clean sources.

History

Historically, South Korea has seen fluctuating developments in its low-carbon electricity sector over the decades, especially in nuclear power. During the late 1980s and throughout the 1990s, there were consistent and substantial annual increases in nuclear electricity generation, showcasing a strong initial commitment to expanding this clean energy source. However, there were notable declines in the mid-2010s, specifically in 2013 and 2017, when nuclear generation fell significantly. Despite these setbacks, the country has shown resilience, with marked recoveries in nuclear output from 2019 onwards, demonstrating an ongoing commitment to clean energy. Most recently, there has also been a promising growth in solar electricity in 2024, signifying a diversification of low-carbon energy sources alongside nuclear power, shaping a more sustainable electricity future for South Korea.

Electricity Imports and Exports

Balance of Trade

Data Sources