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Country report
Dec 2021
Reforming Korea's Electricity Market for Net Zero
The study analyses market design improvements to enable achieving net zero in Korea's power sector, in accordance with the country's long-term decarbonisation objectives. This report was commissioned by Korea's Ministry of Trade, Industry and Energy and carried out jointly by the International Energy Agency (IEA) and the Korea Energy Economics Institute. The objective of the study was to analyse market design improvements to enable achieving net zero in Korea's power sector, in accordance with the country's long-term decarbonisation objectives.For this the IEA devised a Korea Regional Power System Model to evaluate the…
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Country report
Jan 2021
Korea Electricity Security Review
…in terms of energy demand and variable renewable energy deployment, and provides options to maintain the country’s current high level of electricity security, while integrating increasing shares of solar PV and wind.
Taking into consideration the existing institutional and market structure, the analysis first looks into how flexibility needs may evolve in Korea’s power system and suggests technical options to satisfy these requirements making use of flexible generation, storage, demand-side flexibility and grids. The report then looks at key aspects of operational security and long-term planning, both recognising current progress in terms of grid and market… -
Article
16 Aug 2021
Korea Climate Resilience Policy Indicator
…depending on greenhouse gas concentrations. If greenhouse gas emissions stay at the current level (RCP 8.5), the number of heatwave days and summer days could increase by 25.4 and 66.2 respectively, while cold-wave days could decrease by 6.2 at the end of the century (2071-2100)Temperature changes are already affecting energy demand for heating and cooling. In the last two decades, the number of heating degree days (HDDs) has decreased while cooling degree days (CDDs) have followed an upward trend. This change is likely to raise energy demand for cooling and reduce consumption for heating…