Energy Policies of IEA Countries: The Republic of Korea 2012 [electronic resource] /
IEA.
Organisation for Economic Co-operation and Development StaffContent Provider
Paris : IEA,
2012.
Korea, the world's thirteenth-largest economy and the seventh-largest exporter, is an energy-intensive nation. In 2008, the country adopted a long-term "green growth" strategy to foster economic development by means of low-carbon technologies and clean energy; since then, the government has implemented many policies to support these goals. In 2012, Korea announced an emissions-trading scheme -- the first of its kind in Asia -- which will be implemented in 2015. This represents a major step towards achieving its target of a 30% reduction in greenhouse gas emissions by 2020. Strong energy efficiency policies have been developed to complement the emissions-reduction target. Korea has made efforts to enhance energy security by taking measures to diversify energy sources, reduce the use of fossil fuels and foster the development of renewable energy alongside the expansion of its nuclear energy programme. Government expenditure on energy-related RD&D is among the highest in the OECD. Progress in some sectors has been slower, and the lack of a clear, long-term vision for its electricity and natural gas markets is one of the greatest energy-policy challenges facing the Korean government. Energy markets are dominated by incumbents and have been slow to open up to competition. This review analyses the energy-policy challenges facing Korea and provides sector-based assessments and recommendations for further policy improvements. It is intended to help guide the country towards a more secure and sustainable energy future.
1. Executive Summary and Key Recommendations  -Executive summary -Maintaining progress -Nuclear energy -Reforming electricity and natural gas markets -Design of the emissions trading scheme -Energy efficiency policy -Key recommendations PART I. POLICY ANALYSIS 2. General Energy Policy  -Country overview -Supply and demand -Energy administration and institutions -Key energy policies -Planning and forecasting -Energy security -Taxation -Critique -Recommendations 3. Climate Change  -Overview -GHG emissions profile -Institutions -Policies and measures -Critique -Recommendations 4. Energy Efficiency  -Overview -Final consumption of energy -Institutions -Policies and measures Critique -Recommendations PART II. SECTOR ANALYSIS 5. Natural Gas  -Overview -Supply and demand -Market structure -Infrastructure -Security of natural gas supply -Retail market and tariffs -Critique -Recommendations 6. Oil  -Overview -Supply and demand -Industry structure -Refining and oil supply infrastructure -Critique -Recommendations 7. Coal  -Overview -Supply and demand -Domestic production and reserves -Subsidies -Carbon capture and storage -Critique -Recommendations 8. Electricity  -Overview -Supply and demand -Institutions -Industry structure -Market reform and regulatory framework -Security of supply -Prices and tariffs -Critique -Recommendations 9. New and Renewable Energy  -Overview -New and renewable energy supply -Institutions -Policies and measures -Electricity from new and renewable sources -Critique -Recommendations 10. Nuclear Energy  -Overview -Nuclear power plants -Education and training -The nuclear fuel cycle -Research and development (spent fuel management) -International export activities -Critique -Recommendations PART III. ENERGY TECHNOLOGY  11. Energy Technology Research, Development and Deployment - Overview -Institutional framework -Policies and programmes -Funding and evaluation -International collaboration -Public-private participation -Critique -Recommendations PART IV. ANNEXES Annex A. Organisation of the review Annex B. Energy balances and key statistical data Annex C. International Energy Agency Shared Goals Annex D. Glossary, List of abbreviations and Currency conversion  
Korea, the world's thirteenth-largest economy and the seventh-largest exporter, is an energy-intensive nation. In 2008, the country adopted a long-term "green growth" strategy to foster economic development by means of low-carbon technologies and clean energy; since then, the government has implemented many policies to support these goals. In 2012, Korea announced an emissions-trading scheme -- the first of its kind in Asia -- which will be implemented in 2015. This represents a major step towards achieving its target of a 30% reduction in greenhouse gas emissions by 2020. Strong energy efficiency policies have been developed to complement the emissions-reduction target. Korea has made efforts to enhance energy security by taking measures to diversify energy sources, reduce the use of fossil fuels and foster the development of renewable energy alongside the expansion of its nuclear energy programme. Government expenditure on energy-related RD&D is among the highest in the OECD. Progress in some sectors has been slower, and the lack of a clear, long-term vision for its electricity and natural gas markets is one of the greatest energy-policy challenges facing the Korean government. Energy markets are dominated by incumbents and have been slow to open up to competition. This review analyses the energy-policy challenges facing Korea and provides sector-based assessments and recommendations for further policy improvements. It is intended to help guide the country towards a more secure and sustainable energy future.
Bibliographic Level Mode of Issuance: Monograph
Energy