Energy Policy Review of Korea 2020
Overview
The International Energy Agency (IEA) has conducted an in-depth review of Korea's energy policies since 2002. The review focuses on key challenges in today's rapidly changing energy markets. Korea's energy sector is dominated by fossil fuels and heavily reliant on energy imports. The government aims to accelerate the transition to low-carbon energy through innovation in demand-side management and a clean and safe energy mix.
Key Recommendations
- Energy Transition: Accelerate the transition to low-carbon energy.
- Emissions Trading System: Continue and expand the nationwide emissions trading system.
- Environmentally Friendly Tax Program: Implement the planned environmentally friendly energy tax program.
- Green New Deal: Increase the share of renewable energy in the energy mix.
- Energy Markets: Foster more flexible energy markets and active consumer engagement.
- Climate Change Adaptation: Adapt to climate change and ensure energy security.
Specific Areas of Focus
Energy and Climate Change
- Overview: Overview of Korea's energy and climate policies.
- CO2 Emissions: Reduction in energy-related CO2 emissions.
- Carbon Intensity: Lowering carbon intensity through various measures.
- Climate Policy Framework: Targets and policies to manage greenhouse gas emissions.
- GHG Target Management System: System to manage and monitor GHG emissions.
- Air Pollution and Fine Dust: Addressing air pollution and fine dust.
- Transport: Policies related to transportation.
- Taxation: Environmental taxation.
- Adapting to Climate Change: Strategies to adapt to climate change.
Energy Efficiency
- Overview: Overview of energy efficiency policies.
- Energy Innovation: Promoting innovation in energy technologies.
- Energy Efficiency Policy: Measures to improve energy efficiency.
- Assessment: Evaluation of current energy efficiency programs.
- Recommendations: Suggestions for improving energy efficiency.
New and Renewable Energy
- Overview: Overview of new and renewable energy policies.
- Supply and Demand: Current supply and demand of renewable energy.
- Legal and Regulatory Frameworks: Policies and regulations supporting renewable energy.
- New and Renewable Energy Targets: Setting and achieving targets for renewable energy.
- Policies and Measures: Specific policies and measures to promote renewable energy.
- Assessment: Evaluation of current renewable energy programs.
- Recommendations: Suggestions for enhancing renewable energy programs.
Energy Technology Research, Development, Deployment, and Innovation
- Overview: Overview of energy technology R&D.
- Public Spending on Energy RD&D: Government investment in energy R&D.
- RDD&I Strategy and Policy Framework: Strategies and policies for energy technology R&D.
- Selected Policies and Programs: Specific policies and programs.
- Hydrogen Economy and Fuel Cells: Development of hydrogen economy and fuel cell technologies.
- Carbon Capture, Utilization, and Storage: Technologies for carbon capture and utilization.
- Monitoring and Evaluation: Methods for monitoring and evaluating energy technology programs.
This comprehensive review aims to support Korea in its energy transition and help it achieve its goals of providing affordable, secure, and clean energy to its population.