South Korea

Energy Master Plan

Executive

Plan

Passed in 2008

The Plan has been reviewed and approved by the National Energy Committee, the Presidential Committee on Green Growth and the State Council. It is revised and re-implemented every five years over a period of twenty years. The First Energy Master Plan was introduced in 2008. The Plan is based on Article 41 of the Basic Law on Low Carbon Green Growth and Clause 1 of Article 10 of the Energy Law. The current version as of 2021 is the Third Energy Master Plan. It aims to achieve sustainable growth, enhance quality of life, and serve as a mid- and long-term vision for Korea’s energy transition.

The document deals with trends and prospects of domestic and overseas demand and supply of energy, on matters concerning 1) measures for stable import, supply, and management of energy, 2) the targets energy demand, energy sources, energy efficiency, 3) the supply and use of renewable energy, 4) measures for the safety control of energy, and 5) the development and diffusion of technology related to energy, the training of professional human resources, international cooperation, the development and use of natural resources of energy, and welfare in energy.

Plans under the scope of this document include supply side plans and demand management and other low-carbon plans.

Documents

Climate targets in this law

13 targets

Nuclear energy represent 29% of the energy mix in 2035 by 2035 against a 2014 baseline

Energy | Base year target | Target year: 2035 | Base year: 2014
Reduction of 15% of electricity demand by 2035 against a 2014 baseline

Energy | Base year target | Target year: 2035 | Base year: 2014
Final energy consumption reduced by 13% by 2035 against a 2014 baseline

Energy | Base year target | Target year: 2035 | Base year: 2014
Supply potential of renewables set as 11% by 2035

Energy | Trajectory target | Target year: 2035 | Base year: 2014
Targets an energy mix where 30-35% of energy generation is renewables in 2040

Energy | Target year: 2040
Targets 18.6% (below the BAU level) reduction of energy consumption by 2040

Energy | Target year: 2040 | Base year: Compared with business as usual scenario
Target a 21% reduction in energy intensity of the industrial sector by 2040

Energy | Target year: 2040 | Base year: 2017
Target a 38% reduction in energy intensity of the building sector by 2040

Energy | Target year: 2040 | Base year: 2017
Aim to distribute 8.3 million electric vehicles and 2.9 million hydrogen vehicles by 2040 (amounts to half of the vehicles registered in Korea)

Transport | Target year: 2040
Target average fuel efficiency of heavy-duty vehicles to be about 1.5 times higher in 2040 (compared to 2017)

Transport | Target year: 2040 | Base year: 2017
Target the ratio of distributed generation to be 30% by 2040

Energy | Target year: 2040
Target 1.9-2.7 million renewable energy facilities by 2040

Energy | Target year: 2040
Target a hydrogen supply of 5.26 million tons by 2040

Energy | Target year: 2040