According to the new national energy plan, South Korea’s industry ministry announced Friday that by 2038, more than 70% of the country’s yearly power generation will come from carbon-free energy sources, such as nuclear and renewable energy.
According to the Ministry of Trade, Industry, and Energy, the nation intends to significantly raise the share of carbon-free energy in the yearly energy supply, from 39.1% in 2023 to a combined 70.7% in 2038.
According to Yonhap news agency, nuclear power, solar, wind, and hydrogen power are examples of carbon-free energy sources.
According to the ministry, the most recent national electricity supply plan for 2024–2038 has been finalized. It aims to achieve carbon neutrality by 2050 while meeting the rapidly increasing demand for electricity brought on by the growth of advanced industries like electric vehicles (EVs) and artificial intelligence (AI).
According to the government, South Korea’s power demand is predicted to increase by 1.8% annually on average, reaching 129.3 gigawatts (GW) in 2038. At the moment, the demand for electricity is approximately 100 GW.
According to the plan, the government would raise the share of nuclear and renewable energy to 31.8% and 18.8% by 2030 and 35.2% and 29.2% by 2038, respectively.
In 2023, nuclear and renewable energy sources accounted for 30.7% and 8.4% of the nation’s electricity supply, respectively.
Additionally, the government intends to increase the share of ammonia and hydrogen power from 1.2% in 2023 to 2.4% in 2030 and 6.2% in 2038.
South Korea will construct two new nuclear power plants with a combined 2.8 GW generating capacity and begin operations before the end of 2038 in order to meet the target.
The ministry said the state-run Korea Hydro & Nuclear Power Co. will build the new plants, which will be called Shin-Hanul 3 and 4.
By 2036, the nation will also build its first small modular reactor of the next generation, with a 0.7 GW capacity.
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