Why South Korea’s ambitious plan to phase out coal faces serious headwinds



Analysis Why South Korea’s ambitious plan to phase out coal faces serious headwinds ROK wants to shutter 75% of coal plants by 2039 but will need to address energy security risks and economic disruptions John LeeNovember 27, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON A collage of industrial machinery working with coal and South Korean President Yoon Suk-yeol \| Image: Pexels, ROK Presidential Office (Oct. 30, 2024), edited by Korea Pro South Korea’s trade ministry has announced a plan to phase out over 75% of the country’s coal-fired power plants by 2039, an ambitious effort to align the country with global decarbonization trends and reduce greenhouse gas emissions. Introduced last week alongside the establishment of a “Coal Power Transition Taskforce,” the initiative reflects the ROK’s recognition of the need to transition from coal, which it currently relies on for roughly a third of its energy needs. But the road map faces significant headwinds, and its success will hinge on whether the country can overcome energy security risks, economic disruptions from the © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01AI storage boom gives South Korea battery makers an EV overcapacity lifeline 02South Korea’s Mexico strategy runs into the hard limits of USMCA politics 03Preschool test ban forces South Korea’s English hagwons to rethink placement 04Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility 05US midterm clock raises stakes for South Korea’s $200 billion investment talks 06Lee’s Hormuz red line tests South Korea’s leverage in $350 billion US talks 07South Korea’s AI data center boom is colliding with the true cost of power 08Why South Korea cannot rebalance growth without stronger regional clusters

Analysis

Why South Korea’s ambitious plan to phase out coal faces serious headwinds

ROK wants to shutter 75% of coal plants by 2039 but will need to address energy security risks and economic disruptions

John LeeNovember 27, 2024

Why South Korea’s ambitious plan to phase out coal faces serious headwinds

A collage of industrial machinery working with coal and South Korean President Yoon Suk-yeol | Image: Pexels, ROK Presidential Office (Oct. 30, 2024), edited by Korea Pro

South Korea’s trade ministry has announced a plan to phase out over 75% of the country’s coal-fired power plants by 2039, an ambitious effort to align the country with global decarbonization trends and reduce greenhouse gas emissions.

Introduced last week alongside the establishment of a “Coal Power Transition Taskforce,” the initiative reflects the ROK’s recognition of the need to transition from coal, which it currently relies on for roughly a third of its energy needs.

But the road map faces significant headwinds, and its success will hinge on whether the country can overcome energy security risks, economic disruptions from the

Why South Korea’s ambitious plan to phase out coal faces serious headwinds

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John Lee