Commodity Market Report
South Korea energy markets long-term outlook 2019
Report summary
South Korea is one of the largest energy markets in Asia Pacific and one of the biggest importers of coal, oil and LNG in the world. As a highly mature market South Korean macro growth is expected to moderate, which will temper long-term energy demand growth. Total energy demand is expected to peak and plateau from 2026 around 300 Mtoe, however the energy mix will shift as coal and oil gradually lose share to gas and renewable energies. But could South Korea's transition accelerate given recent government policy changes, upgrades to renewable targets and rising public concern with air quality?
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