South Korea is a major energy importer, importing nearly all of its oil needs and ranking as the second-largest importer of liquefied natural gas in the world.Electricity generation in the country mainly comes from conventional thermal power, which accounts for more than two thirds of production, an Contact online >>
South Korea is a major energy importer, importing nearly all of its oil needs and ranking as the second-largest importer of liquefied natural gas in the world.Electricity generation in the country mainly comes from conventional thermal power, which accounts for more than two thirds of production, and from nuclear power.[1]
Energy producers were dominated by government enterprises, although privately operated coal mines and oil refineries also existed. The National Assembly enacted a broad electricity sector restructuring program in 2000, but the restructuring process was halted amid political controversy in 2004 and remains a topic of intense political debate.[2]
South Korea has no proven oil reserves.[1] Exploration until the 1980s in the Yellow Sea and on the continental shelf between Korea and Japan did not find any offshore oil. The Donghae-1 gas field produced natural gas between 2004 and 2021, and natural gas exploration off the east coast was started in 2024.[3]
In recent years, South Korea has set a new direction for its energy sector, with significant decarbonization goals, aiming to raise the share of electricity from renewable sources from 6% in 2019 to 35% by 2030.[5][6]
Final energy consumption by source (2010):[8]
2012R = CO2 calculation criteria changed, numbers updated
KOGAS (한국가스공사) acts as importer of LNG for the power generators.
South Korea placed a heavy emphasis on nuclear power generation. The country''s first nuclear power plant, the Kori Number One located near Pusan, which opened in 1977. Eight plants operated in 1987, with yearly nuclear power generation at an estimated 39,314 gigawatt-hours, or 53.3% of total electric power output.[11]
In December 2017, Hyundai Electric announced a plan to build a 150MW grid storage battery near Ulsan for Korea Zinc.[12] A battery system at several substations, with a combined power of 978 MW and energy capacity of 889 MWh, was finished in 2024.[13]
According to the Carbon Dioxide Information Analysis Center CDIAC South Korea is among the top ten, namely ninth, highest country in carbon dioxide emissions in the period 1950-2005. The United States (25%), China (10%) and Russia (8%) are the countries with the highest carbon dioxide emissions from 1950 to 2005.[14]
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