Korea 2021 Clear all

        • Country report

        • Jan 2021

        Korea Electricity Security Review

        …aspects of operational security and long-term planning, both recognising current progress in terms of grid and market code updates as well as suggesting improvements to the long-term planning process, through for example integrated resource planning.
        The report suggests market design improvements that can be implemented within the current framework, considering price formation mechanisms and integration with the existing emissions trading scheme. Finally, the report examines key aspects of climate and cyber resilience, suggesting improvements that can be integrated into long-term planning to ensure resilience across the whole value chain. Executive summary Around the world energy transitions are…

        • Country report

        • Dec 2021

        Reforming Korea's Electricity Market for Net Zero

        …the emissions implications of the plans laid out in Korea’s 9th Basic Plan for Long-Term Electricity Supply and Demand and the Carbon Neutral Strategy published in 2021. The analysis includes a scenario elaborated by the IEA, based on the World Energy Outlook's Announced Pledges Scenario for 2035, to analyse potential for further market improvements.This analysis covers market improvements in areas such as carbon pricing, market price enhancements that better reward low-emissions technologies and security of supply, and market access reforms to ensure the participation of a wider range of new technologies and distributed energy resources.

        • Article

        • 16 Aug 2021

        Korea Climate Resilience Policy Indicator

        …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. In the mid-2020s, electricity demand for summer cooling is expected…