The Republic of Korea’s energy use per capita is among the highest globally and it is also one of the world’s largest consumers of energy, mostly derived from fossil fuels.

More than 80% of South Korea’s energy use in 2024 came from fossil fuels, with close to 60% of electricity generated from coal and natural gas and nuclear (30%) the only other currently significant source of power.

South Korea has been dependent on oil, coal and gas imports for several decades and it remains the world’s third biggest LNG importer, behind China and Japan. These imports help drive an economy that is the fourth largest in Asia.

South Korea’s Energy Mix

South Korea outlined a target for net zero by 2050 in its updated 2025 Nationally Determined Contribution document, which charts a cut to greenhouse gas emissions of 53-61% by 2035 compared to 2018 levels.

These cuts are slightly higher than the previous NDC, which was submitted in 2020.

The energy mix by which South Korea will progress its ambitions has changed significantly in recent years, starting with a switch of government in 2022 – which saw the reversal of plans to phase out nuclear power by 2050. However, another change of government in 2025 seems set to put the brakes on any nuclear expansion, with a likely focus on growth in renewables.

 

Republic of Korea's energy & climate goals in brief

  • Legislated target of carbon neutrality by 2050
  • World’s third biggest LNG importer
  • Expanding role for nuclear energy
  • Regional leader in CCS/hydrogen development

South Korea’s Energy Plan

South Korea’s 11th Basic Plan for Electricity Supply and Demand (2024-2038) was finalised in February 2025 and foresees faster-than-ever demand growth for electricity, driven by factors such as the development of advanced industries (including semi-conductors), expansion of AI data centres and broader electrification. The plan envisions electricity demand growing by 30% to 2038.

Under the plan, nuclear power would make up a little more than 35% of generation, with LNG and coal declining to 10.6% and 10.1% respectively. But this would likely be contingent on renewable energy reaching its target of 33% and hydrogen/ammonia supplying 6.2% of power. Less than 6.5% of South Korea’s power came from renewable sources in 2024 so substantial investment would be required.

Korea used COP30 to pledge to move away from unabated coal-fired power and shut down at least 40 such plants by 2040. it will be interesting to see how this commitment aligns with the 12th Basic Plan for Electricity Supply and Demand, which is now set to come out in 2026.

Natural Gas

While President Yoon Suk-yeol has approved gas exploration off the country’s east coast to promote energy security, LNG imports are likely to have a strong ongoing presence in South Korea – for use in power, as feedstock for industry and to produce hydrogen and ammonia. There were seven operational LNG terminals in late 2023 and two more have been completed since, including POSCO’s Gwangyang Terminal.

Meeting carbon targets in Korea will require decarbonisation efforts across all energy sectors, removal of regulatory and institutional barriers, introduction of flexible market designs, and deployment of the country’s advanced technologies and innovative capacity. The Green New Deal announced in July 2020 was a significant step towards accelerating the transition. It aims to increase the number of electric vehicles from 90,000 at the end of 2019 to 1.13 million by 2025 and increase the number of hydrogen-powered fuel-cell electric vehicles on Korean roads from the 5083 sold in 2019 to 200,000.

The Ministry of Land, Infrastructure and Transport in 2019 announced plans for three ongoing small-scale “hydrogen city” pilot projects in Ulsan, Ansan and Jeonji. Following the success of these trials, the Korean Government has awarded $192 million in funding to develop larger-scale projects in Pyeongtaek, Namyangju, Dangjin, Boryeong, Gwangyang, and Pohang.

The hydrogen used in these cities would be created from natural gas with carbon capture and storage (CCS) – a pointer towards another key aspect of South Korea’s decarbonisation plans.

The country has designated carbon capture, utilisation and storage (CCUS) as one of 10 Major Technologies for Carbon Neutrality Technology Innovation in its 2050 Carbon Neutral Promotion Strategy. South Korea is seeking to commercialise CCUS technology by 2030 and intends to use it to reduce emissions from both the power sector and heavy industry.

South Korean companies have entered into a range of agreements with partners in Malaysia, Indonesia and Australia to develop cross-border CCS value chains.

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