South Korea

South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula. The capital is Seoul.

The state has 17 first-tier administrative divisions: 6 metropolitan cities, 1 special city, 1 special autonomous city, and 9 provinces, including one special autonomous province.

South Korea’s renewables market outlook

South Korea’s energy portfolio will move from 64% of coal and nuclear generation seen now to more than 71% of gas and renewables in 2050. Installed capacities will double with offshore wind accounting for 50% of generation. Around 70% of newly added installations will be renewable, including 93 GW of PV solar and 69 GW of wind.

Advanced transport in South Korea

Electric vehicles (EV) in South Korea

In South Korea, EV sales will account for 52% of aggregate car sales in 2040.

Fuel cell vehicles (FCV) in South Korea

ChinaJapan, and South Korea have set ambitious goals to bring billions of dollars worth of fuel cell vehicles to their roads by the end of the 2020s. South Korea, which sells around 1.6 mln cars annually, has set a goal of 850,000 cars of this type by 2030, although as of the end of 2018 less than 900 such cars were sold.

Self-driving cars in South Korea

In October 2019, South Korea’s government announced plans to spend 1.7 tln won (USD1.45 bln) from 2021 through 2027 on self-driving technologies. Local auto giant Hyundai is expected to make cars with the fourth level of automation or fully autonomous cars available for corporate clients from 2024 and for individuals from 2027. At the same time, President Moon Jae-in said that by 2030, self-driving vehicles will make up half of new cars on the country’s roads.

    South Korea's latest energy market news

      Companies operating in South Korea

      Projects implemented or planned in South Korea