(CTN News) – South Korea has unveiled an ambitious energy blueprint aiming to generate 70% of its electric power from carbon-free sources by 2038, according to a draft of the country’s energy mix plan released on Friday.
This marks a significant increase from the current level of less than 40% in 2023. The plan, which is set to be finalized by the government, outlines a strategy to balance nuclear power expansion with a major boost in renewable energy output.
President Yoon Suk Yeol’s administration has emphasized the importance of diversifying the country’s energy portfolio, with a focus on expanding nuclear power alongside renewable sources like solar and wind.
The plan maintains the construction of four new nuclear plants by 2038, bringing the total to 30, while targeting a more than threefold increase in solar and wind power output to 72 gigawatts by 2030, up from 23 gigawatts in 2022.
“The aim is to strike a balance in energy sources,” the industry ministry said in a statement, noting the president’s commitment to reducing South Korea’s reliance on imported fossil fuels.
South Korea’s Energy Plan: Balancing Growth and Sustainability
The plan foresees total power generation capacity increasing to 157.8 gigawatts by 2038, up from 134.5 gigawatts in late 2022, to meet growing energy consumption, driven by expanding data centers and chip-production bases for artificial intelligence applications.
The blueprint also outlines the retirement of twelve coal power plants reaching 30 years old in 2037 and 2038, which will be replaced by carbon-free alternatives such as pumped-storage hydroelectricity and hydrogen power generation.
However, South Korea plans to continue replacing other aging coal power plants with liquefied natural gas facilities.
In anticipation of increased global demand for small modular reactors (SMRs), the government has allocated 0.7 gigawatts of power generation to support the development of this type of nuclear technology by 2038.
South Korea’s new energy plan is expected to undergo further development and consultation before finalization by the government, aiming to position the country as a leader in sustainable and diversified energy sources over the coming decades.