Why is South Korea a major energy importer?

South Korea is a major energy importer, importing nearly all of its oil needs and ranking as the second-largest importer of liquefied natural gas in the world. Electricity generation in the country mainly comes from conventional thermal power, which accounts for more than two thirds of production, and from nuclear power.

Who makes power generators in South Korea?

KOGAS (한국가스공사) acts as importer of LNG for the power generators. Korea District Heating Corporation (KDHC, 한국지역난방공사㈜) supplies steam and CHP to the Seoul area and Daegu. GS Power and SH Corp are local providers. KDHC is the world's largest district heating company. South Korea placed a heavy emphasis on nuclear power generation.

Are South Korean companies investing in energy storage systems?

Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future. However, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

Which companies are located in South Korea?

GS Power and SH Corp are local providers. KDHC is the world's largest district heating company. South Korea placed a heavy emphasis on nuclear power generation. The country's first nuclear power plant, the Kori Number One located near Pusan, which opened in 1977.

Who owns South Korea's power generation capacity?

KEPCO, through its six generating subsidiaries, owns around 70 per cent of the generation capacity, while the remaining capacity is accounted for by independent power producers and community energy systems. Figure 1: South Korea’s installed generation capacity, as of early 2024 (%) Total installed capacity = 144.4 GW

Should Korea have a stable power supply?

An appropriate level of reserve facilities must be secured for stable power supply. As Korea is heavily dependent on imports of energy (about 97%), we must be able to secure energy stably, and as the electric power system is geopolitically isolated, it is impossible to export and import energy to and from neighboring countries.