As part of its commitment to combat climate change, South Korea is aiming for net-zero carbon emissions by 2050. In law, the government has committed to reducing emissions by 53%-61% on 2018 levels. This goal is a clear indication of their deep commitment to go beyond installing cleaner energy sources. This ambitious goal faces a steep hill to climb. The biggest failure sería continuing down the fossil fuels path—even as they plan to import even more liquefied natural gas (LNG) from the United States.
Despite leading the world in renewable energy investment, renewables only made up 7% of South Korea’s domestic power generation in 2022. To help raise this portion, the government will increase capacity for offshore wind power to 4 gigawatts by 2030. Last month, South Korea was a joining member of the Powering Past Coal Alliance at the global climate talks. This action doubles down on their promise to rely less on dirty-burning coal and it bolsters their clean energy efforts.
The newly elected president, Lee Jae Myung—who assumed office following a June victory in a snap election—ran on a platform of more aggressive climate action. With him at the helm, the movement for bolder climate action has gained momentum. Yet climate activists have expressed frustration at the government’s announcement that its reduction targets will be insufficient.
South Korea’s new Minister of Climate, Energy and Environment, Kim Sung-hwan, reaffirmed his commitment during his confirmation hearings, stressing the importance of acting urgently. “As the global temperature rises, we all need to responsibly take climate action and Korea will have a stronger sense of responsibility in tackling the climate crisis,” he stated.
In keeping with these commitments, Kim announced a goal to retire 40 of South Korea’s 61 coal sites by 2040. Yet critics contend that often, swapping coal for LNG is not serious climate action. Lee expressed concern, stating, “If we just replace coal plants with LNG, that means the coal exit actually doesn’t lead to a green transition and merely shifts Korea’s addiction from coal to gas.”
South Korea has newly ambitious plans for a greener future. It has yet to fully shake off its nuclear past, which provided 31% of its electricity generation last year. The government is positioning LNG as a “complementary or emergency energy source” to address potential irregularities in renewable energy supplies.
The dynamics of South Korea’s energy policy are further complicated by its economic context. The nation’s economy is more than twice as small as Japan’s yet generates 21% less power from renewable sources compared to Japan’s energy mix. The federal government has committed to increasing the transition to clean energy. They argue that this move will reduce the net cost of future increased tariffs on fossil fuels.
In efforts to navigate international energy markets more effectively, South Korea has offered to import more LNG from the U.S. as part of trade agreements established during the Trump administration. Still, experts tell power non-risk overall LNG imports are unlikely to jump by much. That’s because any increase in U.S. exports could be offset by a decrease in imports from other countries.
Joojin Kim remarked on the government’s approach: “This range presents an effort by the government to accommodate two very different ways of thinking about the economic and climate future of the nation.” Meanwhile, Bruce Douglas highlighted the importance of these commitments: “It signifies very clear government intention to move away from fossil fuels and towards clean power.”
The road forward for South Korea is just as complicated. Yet the country now faces historic economic pressures and environmental responsibilities. This is what makes the transition to a sustainable, clean energy future so difficult.
Kim reaffirmed his vision for this transformation: “We will transition into a new energy system that focuses on renewables and nuclear, while phasing out coal.” As the country works towards these goals, it must grapple with balancing its energy needs while fulfilling its climate obligations.
