Indicator 1: Renewable Energy (Monthly)
This indicator will track the share of renewables in South Korea’s Energy Mix. It is reliable as it is updated on a regular basis and provides an insight into the evolving share of renewables in the country’s Energy Mix.
The potential of renewable energy to reduce greenhouse gas emissions is already well established. Electricity generated from clean and renewable sources, such as solar and wind, replace greenhouse gas emitting fossil fuels in a country’s Energy Mix. South Korea, as one of the top 10 emitting countries in the world, has been slow to incorporate renewables into its Energy Mix. Renewables account for just 6.7% of South Korea’s Energy Mix, the lowest of any OECD country. [1] The government aims to increase the share of renewable electricity in the Energy Mix to 20% by 2030.[2] As the proportion of renewables in the Energy Mix grows, South Korea’s greenhouse gas emissions will immediately and significantly reduce, helping the East Asian nation to achieve its updated and enhanced target of reducing greenhouse gas emissions by 40% from the 2018 level by 2030.[3]
The data on the percentage share of Renewables in South Korea’s Energy Mix will be sourced from the Korea Energy Economics Institute’s monthly reports on energy statistics in the country. This data can be updated monthly.
Korea Energy Economics Institute, “Monthly Energy Statistics” http://www.kesis.net/sub/sub_0003_eng.jsp
At the end of 2021, Renewables made up 6.7% of South Korea’s Energy Mix.
Indicator 2: Coal-fired Power Plants (Monthly)
Name: Number of operational coal-fired power plants in South Korea
Type: Performance indicator tracking the number of coal-fired power plants in operation in the country.
This indicator will monitor and update the number of coal-fired power plants in South Korea. The lower the number of operational coal-fired power plants in the country, the greater potential there is for lower-emissions.
Coal power accounts for approximately 40% of South Korea’s electricity generation, which in turn means that coal is the largest source of greenhouse gas emissions in the country.[4] In order to combat this major issue, the government of South Korea has pledged to dramatically phase down coal-fired power plants by 2030. Coal-fired power plants in the country will either shut down or transition from coal to Liquefied Natural Gas (LNG), which emits almost 50% less CO2 than coal.
As of January 2022, there are 60 coal-fired power plants in South Korea.[5] It is expected that this figure is going to drastically reduce in the next decade, with 30 coal-fired power plants expected to be shut down by 2034.[6]
The data will be primarily sourced from indicators on a South Korea government website. The total number of operation coal-fired power plants in the country will also be monitored by reading various news articles and government press releases. This data can be updated monthly.
National indicator service of Statistics Korea (K-Indicator)
https://www.index.go.kr/unify/idx-info.do?idxCd=4292
As of January 2022, there are 60 coal-fired power plants currently in operation in South Korea.
Indicator 3: Hydrogen FCEVs (Semi-Annually)
Name: Number of deployed Hydrogen Fuel-Cell Electric Vehicles (FCEVs)
Type: Performance indicator tracking the FCEV stock in South Korea
Vehicles are the one of the largest sources of emissions and generate approximately 13% of domestic greenhouse gas emissions in South Korea.[7] By the end of 2021 there were 25 million registered motor vehicles in the country, electric vehicles (EVs) account for just 2.1% or 525,000 of this figure.[8], [9] EVs have the potential to significantly reduce emissions emanating from the transportation sector. The global market for EVs has seen significant growth in recent years and is becoming more dynamic in terms of the available technologies.
South Korea, as one of the first countries in the world to publish a National Hydrogen Strategy and with the third-largest public investment in hydrogen, has ambitious rollout plans for the deployment of Fuel-Cell Electric Vehicles (FCEVs). A hydrogen FCEV is a non-polluting vehicle that uses electric energy generated by the combination of high-pressure hydrogen stored in the vehicle and air in the atmosphere. South Korea led the world in the deployment of FCEVs in 2021, with almost 20,000 hydrogen vehicles on the road in the country.[10] The Korean New Deal, announced in 2020, has set a target of 200,000 FCEVs to be on the road in the country by 2025.[11] Even more ambitiously, by 2040 it is expected that 2.9 million FCEVs will have been consumed on the domestic market with a further 3.3 million units being exported.[12]
The data, measured in units, will be sourced from Korean news organizations such as Yonhap, and Economic Daily. Data on FCEV stock from the International Energy Agency (IEA) will be correlated with figures emanating from Korean media and government websites. The data will be updated twice a year.
Yonhap News: https://en.yna.co.kr/view/AEN20211228006200315
Economic Daily: https://www.mk.co.kr/news/society/view/2022/01/80939/
IEA: Fuel cell electric vehicle stock by segment, 2017-2020
https://www.iea.org/data-and-statistics/charts/fuel-cell-electric-vehicle-stock-by-segment-2017-2020
In South Korea, there were 20,000 units as of December 2021.
Indicators Table: South Korea
| Performance Indicator | Baseline Value | Date |
| 1: Renewables share of South Korea’s Energy Mix | 6.7% | December 2021 |
| 2: Number of operational coal-fired power plants in South Korea | 60 | January 2022 |
| 3: Number of deployed Hydrogen Fuel-Cell Electric Vehicles (FCEVs) | 20,000 | December 2021 |
Resources
[1] http://www.kesis.net/sub/sub_0003_eng.jsp
[2] https://energytracker.asia/the-main-barriers-to-the-renewable-energy-transition-in-south-korea/#:~:text=In%202020%2C%20wind%20and%20solar,up%20to%2042%25%20by%202034
[3] https://www4.unfccc.int/sites/ndcstaging/PublishedDocuments/Republic%20of%20Korea%20First/211223_The%20Republic%20of%20Korea%27s%20Enhanced%20Update%20of%20its%20First%20Nationally%20Determined%20Contribution_211227_editorial%20change.pdf
[4] https://carbontracker.org/coal-phase-out-in-s-korea-by-2028-most-economical-choice-study-shows/
[5] https://www.index.go.kr/unify/idx-info.do?idxCd=4292
[6] http://www.koreaherald.com/view.php?ud=20200908000676
[7] https://www.transportpolicy.net/standard/south-korea-light-duty-fuel-economy-and-ghg/
[8] https://www.ceicdata.com/en/korea/number-of-registered-motor-vehicles/registered-motor-vehicles
[9] https://www.statista.com/statistics/1099571/south-korea-electric-vehicles-market-share/
[10] https://www.mk.co.kr/news/society/view/2022/01/80939/
[11] https://english.moef.go.kr/pc/selectTbPressCenterDtl.do?boardCd=N0001&seq=4948
[12] https://docs.wixstatic.com/ugd/45185a_fc2f37727595437590891a3c7ca0d025.pdf
This Post was submitted by Climate Scorecard South Korea Country Manager Michael O’Neill