Korea

Korea’s energy sector is characterised by a dominance of fossil fuels, a strong dependence on energy imports, and the dominance of industrial energy use; the highest share among IEA countries in 2018. The high reliance on foreign energy has led Korea's energy policy to focus on security of supply.

Korea

Key energy statistics

Key recommendations, 2012

  • Develop and implement electricity and natural gas market reforms

    Following extensive consultation with stakeholders, reforms should include greater restructuring of Korea Electric Power Corporation (KEPCO) and the wholesale electricity market, guarantee the independence of the sector regulator, ensure fair competition including the removal of barriers to new entrants and third-party access to network infrastructure, and create clear roles for publicly owned and private entities.

  • Develop the emissions trading scheme

    Elaborate on all elements of the emissions trading scheme and ensure the mechanism is compatible to the greatest extent possible with other significant policies in the energy sector and the broader economic framework. A regular review mechanism should also form part of the scheme.

  • Develop an integrated and coordinated energy efficiency strategy

    To foster the effectiveness of energy efficiency policies, develop and monitor measurable sector targets, in particular for the transport, industry and utilities sectors.

Policies

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