Korea's Yoon backtracks on renewables and ups nuclear in energy mix

Power supply monitoring room at Kepco's office in Seoul in August. [YONHAP]

Renewable energy in Korea's energy mix will be reduced while nuclear will be increased under the first energy plan of the Yoon Suk-yeol administration.

This is a reversal from the policy of the Moon Jae-in government.

Yoon's renewable goal will be 21.5 percent of the total, down from Moon's 30-percent target. The president will take nuclear to 32.8 percent from the previous government target of 23.9 percent.

The energy supply policy was crafted with the help of experts and academics, including Yoo Seung-hoon, Seoul National University of Science & Technology professor of energy policy.

It is a long-term plan that will run over a 15-year period.

Renewable energy will remain the second biggest source of energy, ahead of coal, at 21.2 percent, and gas, at 20.9 percent.

The ultimate goal still is to achieve carbon neutrality by 2050.

While the coal contribution has been reduced, it only dropped 0.6 percentage points from Moon government's Nationally Determined Contributions plan announced in November.

Yoo said the latest energy supply roadmap has increased the contribution from nuclear energy and sets more realistic renewable energy goals.

According to the energy policy report, maximum power demand is expected to increase an annual average of 1.4 percent to 117.3 gigawatts in 2036.

That's higher than the 1.1 percent average annual increase to 102.5 gigawatts in 2034 projected in a December 2020 plan.

"While the earlier policy plan did not include the impact of the fourth industrial revolution, the latest includes the rapid expansion of data centers, which are key to the fourth industrial revolution," Yoo said.

The report estimates the need for 143.1 gigawatts of energy capacity by 2036.

This would include 12 nuclear power plants with a combined 10.5 gigawatts of energy still operating in 2036 with an additional six power plants generating 8.4 gigawatts.

Shin Hanul reactor units 1 and 2, which are to go online in 2025, will generate 2.8 gigawatts.

Shin Hanul reactors 3 and 4, which have been suspended, will generate 2.8 gigawatt of energy when completed by 2033.

By 2036, 26 coal powered plants with a combined 13.7 gigawatts of capacity are expected to go out of service by 2036 as they meet their 30-year service lives.

"We express our concern about a Korean government energy policy that runs counter to the world's aggressive expansion of renewable energy with the goal of carbon neutrality, energy security and economic growth," said Lim Jae-min, secretary general of Energy Transition Forum Korea in a statement. "The new government energy policy of raising nuclear power while maintaining fossil fuel and significantly reducing the renewable energy target is irresponsible."

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]