South Korea introduces 《the Third Energy Basic Plan》 to accelerate the development of renewable energy 2019-06-24
According to the "Yonhap News Agency" news report, the Korea Ministry of Industry, Trade and Resources announced the "third energy basic plan" draft on April 19, and proposed to increase the proportion of renewable energy to 30-35% by 2040, significantly reducing coal power generation proportion.

The plan will transform the basic direction of future energy policy from a supply center structure to a consumer center structure, such as introducing more electricity tariffs for consumers to choose and continue to rectify the natural gas tariff system. Another major component of the plan is to get rid of energy production systems based on large power plants and to generate small-scale power generation through photovoltaics and wind power. In addition, the plan also proposes to support the energy industry and realize the high added value of the traditional energy industry.

South Korea currently accounts for only 7%-8% of renewable energy, and there is still a big gap from the International Energy Agency's forecast of 40% of the world's renewable energy in 2040. The South Korean government will release the Ninth Basic Plan for Electricity Supply and Demand at the end of the year, proposing specific methods for expanding renewable energy and reducing coal power generation.

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