Politics and Power: electricity reform a key issue in South Korea's presidential election Report

Insight 03 May 2017

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Report summary

Key takeaways Regardless of results, South Korea's election on 9 May will see a new government focused on reforming the electricity sector. Presidential favourite Moon Jae-in's reform agenda includes more support for renewables, closing of coal plants, shutting nuclear facilities, and even importing Russian piped gas through North Korea. LNG could be a big winner as an interim measure to reduce pollution and address nuclear safety concerns.

Politics: No shortage of headaches for Park’s successor
Pollution: Improving air quality is a key election issue
- New president likely to shake-up energy policy
Power: Overcapacity due to bullish demand outlook
- Spare generation capacity is threatening gas consumption
- Presidential candidates aim for less coal and nuclear
- Policies could improve LNG prospects but hit nuclear industry
- Policies would result in higher retail electricity prices
- Reaching 20% renewable target will be challenging
Conclusion

Tables and charts

This report includes 9 images and tables including:

South Korea GDP and electricity consumption growth (historical)
South Korea electricity consumption growth (Wood Mackenzie vs Government forecast)
South Korea's installed power capacity

South Korea reserve margin
Politics and Power: electricity reform a key issue in South Korea's presidential election: Image 2
South Korea's LNG imports
South Korea's coal imports
Forecast of gas-fired power plants load factors
South Korea LNG into power forecast