S.Korea steps up shift to cleaner energy, sets long-term renewable power targets
SEOUL, April 19 (Reuters) - South Korea plans to boost the
share of its energy output generated from renewable sources to
as much as 35 percent by 2040, a draft revision to government
policy showed on Friday, over four times the current amount.
Asia's fourth-largest economy has been pushing to shed its
heavy reliance on coal and nuclear power, with the latest target
coming on top of a 2017 plan to increase the amount of
renewables in its energy mix to 20 percent by 2030.
Renewable power currently makes up around 8 percent of South
Korea's energy production.
"We have decided to increase the share of renewable power to
between 30 percent and 35 percent by 2040 to move towards
cleaner and safer energy based on an advisory group's
recommendation," Park Jae-young, director of the Ministry of
Trade, Industry and Energy, told a public hearing in Seoul.
A South Korean advisory group said in November that the
government should plan to expand the share of renewable power
generation in the country's generating mix between 25 percent
and 40 percent by 2040 to keep up with global trends.
The role of coal power is expected to be cut further, while
gas power generation will be expanded, Park added.
The ministry will also keep its plan to stop extending the
lifespans of aged nuclear power plants.
Research firm Wood Mackenzie said in late March that South
Korea was likely to just miss its 2030 renewable energy target,
although its renewables capacity was expected to triple from
The energy ministry aims to finalise its energy policy
revision after taking into account suggestions raised at
Friday's public hearing.
(Reporting by Jane Chung; Editing by Joseph Radford)
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.