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Korea 2020
Energy Policy Review The International Energy Agency (IEA) regularly conducts in-depth peer reviews of the energy policies of its member countries. This process supports energy policy development and encourages the exchange of international best practices.
The Korean government is committed to substantially increasing the share of renewable energy sources in the electricity supply, gradually phasing out coal and nuclear power from the energy mix, significantly improving energy efficiency, and fostering the country’s nascent hydrogen industry. Many of these measures will help Korea advance its energy transition and improve its energy security, a high priority given the country’s…
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Korea's legislation on oil security
Introduction There are a variety of acts that govern Korea’s response to an oil emergency. Most importantly, there are the 2017 Petroleum and Petroleum Substitute Fuel Business Act (PAPSA) and the 2016 Energy Act (EA). Together both acts provide the legal framework for Korea’s oil emergency response. Circumstances triggering operation of the emergency response system The PAPSA provides for two levels of emergency measures. The first level is triggered when the uninterrupted supply of oil and the satisfaction of Korea’s oil demand is threatened by events in Korea or abroad or when disturbances in the oil market…