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n artistic impression of Shin Hanul 3 and 4
South Korea’s latest 15-year long-term energy plan, finalized following extensive discussions, outlines a ambitious roadmap to enhance its energy sector. By 2038, the country aims to reduce carbon emissions by 30% compared to 2030, increase domestic electricity demand by an annual average of 1.8%, and expand its nuclear energy capacity.
The updated plan builds on the 10th Basic Power Supply and Demand Plan, which was approved in May 2023. It includes detailed strategies for the next 15 years, with a focus on advancing clean energy, optimizing grid management, and ensuring energy security. By 2038, South Korea intends to achieve 70% carbon-free energy, up from approximately 40% in 2023. This ambitious target is set to be supported by the construction of two new large nuclear power reactors and an additional 0.7 GW of small modular reactor (SMR) capacity.
In addition to these reactors, the plan outlines the need for further nuclear power plants, with a combined generating capacity of 2.8 GW, to meet its energy demands. The construction of these projects is expected to commence in the early 2030s, following technical developments and regulatory approvals. By 2038, South Korea aims to ensure that 50% of its electricity comes from nuclear power, reflecting its commitment to reducing its carbon footprint.
This comprehensive energy strategy underscores South Korea’s efforts to balance economic growth with environmental sustainability, aligning with global efforts to combat climate change and promote energy security.
