The 2024 elections have set the stage for what could be a transformative period for South Korea’s energy policy. The new distribution of power in the National Assembly will influence the direction and pace at which South Korea pursues its renewable energy goals and the global call for climate action.

The “Ship Safety Act” is amended but MOF is still to clarify the specific safety requirements mentioned in the Ship Safety Act. If MOF keeps the same position as mentioned in the amended Ship Safety Act than this could have a massive impact.

The Special Act on the promotion of distributed energy, became effective June 14th, 2024. The purpose of this Act is to contribute to the development of the domestic economy by activating distributed energy through the use of new technologies and increasing the stability of energy supply and demand.

MOTIE announced a new strategy with detailed objectives. Here we explain the background, policy environment, strategic initiatives and policy directions.

The 11th Basic Plan, includes the long-term outlook and basic direction for electricity supply and demand, power plant facility planning and electricity demand management. KEPCO’s (Korea Electric Power Corporation) electricity demand forecast is the first step in the mid-to long-term electricity supply and demand forecasts and facility planning.

On June 20, 2024, we saw the ‘Special Act on Offshore Wind Planning and Domestic Industrial Planning’ introduced in the 22nd National Assembly. Ms. Kim So-hee, a climate expert from the People Power Party, (PPP) introduced the bill and here we make a full analysis of the bill and explain the difference with the 'Special Act Offshore Wind' which did not get endorsed in the 21st National Assembly.

Here we list and discuss all relevant energy related bills introduced in the 22nd National Assembly (June - July 2024)

Three new bills related to power grid expansion, three new bills related to high-level nuclear waste and the new 'Special Act on Offshore Wind and Domestic Industrial Planning'.

South Korea’s ‘Hallim Sea Wind Power Project’, the largest offshore wind power generation project in Jeju, has hit a major roadblock. The project is now under scrutiny for allegedly bypassing critical cultural property surveys. This oversight has led to the suspension of construction, sparking a police investigation and raising questions about regulatory compliance and environmental stewardship.

We published an addendum to cover all relevant energy related bills introduced in the 22nd National Assembly until 16 July 2024.

We analysis in detail the 3 bills related to the grid expansion and the new 'Special Act Offshore Wind'.

The Ministry of Trade, Industry, and Energy (MOTIE) has unveiled a new strategy aiming to boost wind power, targeting 18.3 GW by 2030, through competitive bidding and enhanced public-private collaboration.

The current lack of clear national standards for the distance of renewable energy facilities in South Korea has led to inconsistent regulations by local governments, resulting in conflicts that hinder the distribution of renewable energy.

The proposal suggests that local government approvals for new renewable energy facilities should follow distance standards set by MOTIE, ensuring uniform regulations and preventing overly restrictive measures.

The Special Bill to Expand South Korea's Power Grid aims to accelerate grid development by addressing local resident opposition through improved compensation, while imposing strict penalties for the misuse of project information and regulatory non-compliance.

This is the pre-released 11th Basic Plan, following the draft published in May 2024.

South Korea's Special Bill defines climate vulnerability and resilience, creates a centralized platform for climate data, and prioritizes protecting vulnerable people from climate risks.

South Korea is making brave moves in the offshore wind industry by skipping traditional pilot projects and going straight to large-scale developments with >15 MW wind turbine generators (WTGs).

This report explores the 'go big or go home' strategy in detail, analysing the country's strengths, particularly in shipbuilding, and addressing the challenges, including the lack of domestic supply chains and floating offshore wind expertise.

The report also describes the South Korea’s critical energy policies, including the (pre-release) 11th Basic Plan, the Special Act on Offshore Wind Power Development, and the expansion of the national power grid. Each chapter offers exclusive insider information and local market intelligence.

This bill addresses long-standing challenges related to 𝐥𝐨𝐜𝐚𝐥 𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭 𝐨𝐩𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 by implementing 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭𝐢𝐚𝐭𝐞𝐝 𝐜𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 and improving support systems to secure community consent for project development.

However, the bill also sets out 𝐬𝐭𝐫𝐢𝐜𝐭 𝐩𝐞𝐧𝐚𝐥𝐭𝐢𝐞𝐬 under Chapter 7, particularly for the misuse of 𝐮𝐧𝐝𝐢𝐬𝐜𝐥𝐨𝐬𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧:

The "Special Bill on the Situation of the Offshore Wind Power Plan and Industrial Revitalization", addresses key concerns surrounding offshore wind project delays due to complex approval procedures and insufficient communication with local stakeholders, such as fishermen.

With only 124.5 MW of commercial offshore wind capacity in operation as of June 2024, this bill seeks to significantly streamline and accelerate development.

The "Special Bill to Promote the Supply of Offshore Wind Power Generation," seeks to strengthen South Korea's global competitiveness in offshore wind and drive the country towards carbon neutrality. Recognizing that transitioning to a carbon-neutral society is no longer a choice but a historical mission, this bill addresses the need for coordinated energy policies and the strategic development of offshore wind power.

The 2024 wind power fixed-price competitive bidding announcement was made on Friday, 25 October 2024.

ER-Marine provide the full details of the 2024 evaluation criteria, including a comparison with the 2023 wind auction.