Electricity in South Korea in 2024

In 2024, South Korea's electricity generation relied heavily on fossil fuels, with over 60% of the electricity deriving from sources like coal and gas. Coal made up around 30%, while gas was slightly lower at almost 29%. On the other hand, low-carbon energy, which includes nuclear, solar, and biofuels, contributed to roughly 40% of the electricity production. Nuclear energy was a significant player in the clean energy sector, making up over 30% of the total electricity mix. Solar power, at a smaller but notable 5%, along with biofuels, contributed to the low-carbon balance. Hence, although South Korea is taking steps towards greener electricity, there is still a substantial dependence on fossil fuels, highlighting an essential area for improvement.

Suggestions

To increase its low-carbon electricity generation, South Korea could substantially benefit from further expanding its existing nuclear energy infrastructure, which already provides a considerable amount of clean electricity. Learning from countries like France and Slovakia, where nuclear power constitutes more than 60% of their electricity generation, South Korea can enhance these efforts for a more sustainable future. Additionally, South Korea might explore the potential of wind energy, taking cues from nations like Denmark and the United Kingdom, which utilize wind to power a significant portion of their electricity needs. Aligning with such strategies could help the country substantially decrease its reliance on fossil fuels while addressing environmental concerns like climate change and air pollution.

History

Examining the history of low-carbon electricity in South Korea, nuclear power has experienced several substantial expansions and occasional setbacks. The late 20th century saw significant increases in electricity generation from nuclear power, particularly with notable additions in the late 1980s and the late 1990s. However, early in the second decade of the 21st century, there were critical declines, such as between 2013 and 2018, where nuclear generation decreased significantly. Despite these setbacks, nuclear power showed resilience with gains in following years and continues to be an essential aspect of South Korea’s strategy in low-carbon electricity generation. Moving forward, maintaining and enhancing nuclear capabilities will be crucial for South Korea to lessen its reliance on fossil fuels and achieve a more sustainable energy mix.

Electricity Imports and Exports

Balance of Trade

Data Sources