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South Korea Power Market Outlook to 2030, Update 2017 - Market Trends, Regulations, and Competitive Landscape

  • June 2017
  • 53 pages
  • GlobalData
Report ID: 2979121

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South Korea Power Market Outlook to 2030, Update 2017 - Market Trends, Regulations, and Competitive Landscape

Summary
South Korea is a highly industrialized nation in East Asia and has a high rate of electricity consumption. It saw high economic growth between 1962 and 1989, which was aided by government policies advocating the opening-up of the national economy and its gradual integration into the global economy. This growth was matched by a similar surge in electricity consumption. Gross Domestic Product (GDP) grew by 3.9% during the 2000-2016 historical periods, while power consumption grew by 4.7%.

South Korea depends largely on thermal power for its generation needs. Thermal power accounted for 65% of its total installed capacity in 2016, followed by nuclear power with 22.1%. The following figure shows a breakdown of installed capacity by fuel type.

South Korea registered a Gross Domestic Product (GDP) growth rate of 2.7% in 2016, with an estimated GDP of $1.3 trillion at constant prices. The economy was negatively affected by the global economic recession during 2008, which resulted in a low growth rate of 0.7% in 2009 (IMF, 2016). However, due to export growth, low interest rates, and an efficient fiscal policy, the country was able to recover from the economic crisis and return to a position of growth. The government’s present challenge includes a rapidly aging population and a heavy reliance on exports - which account for almost half of the country’s GDP. The services sector is estimated to have accounted for the majority share of GDP in 2016, at 60.2%, followed by the industrial sector, at 37.6%, and the agricultural sector, at 2.2% (CIA, 2017).

The South Korean power sector is overseen by the Ministry of Trade, Industry and Energy (MOTIE). A governmental agency functioning under the ministry, the Korean Electricity Commission (KOREC), is responsible for regulatory matters. The Korea Electric Power Corporation (KEPCO), a government-owned company, dominates all aspects of the power sector, such as generation, and transmission and distribution (T&D).

The report "South Korea Power Market Outlook to 2030, Update 2017 - Market Trends, Regulations, and Competitive Landscape" elaborates South Korea’s power market structure and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the South Korea power market’s regulatory structure, import and export trends, competitive landscape, and power projects at various stages of the supply chain is provided.

In particular, this report provides the following analysis -
- Provides a snapshot of the key parameters that affect the power sector, as well as key points about the power market.
- Provides analysis of the power market.
- Provides information on cumulative installed capacity and annual generation trends, by individual generation source.
- Describes the power T&D infrastructure and provides information on interconnectors with neighboring countries.

Companies mentioned in this report: Korea Electric Power Corporation.

Scope
- Snapshot of the country’s power sector across parameters - macro economics, supply security, generation infrastructure, transmission infrastructure, degree of competition, regulatory scenario and future potential of the power sector.
- Statistics for installed capacity, power generation and consumption from 2000 to 2016, forecast for the next 14 years to 2030.
- Break-up by technology, including thermal, hydro, renewable and nuclear
- Data on leading current and upcoming projects.
- Information on grid interconnectivity, transmission and distribution infrastructure and power exports and imports.
- Policy and regulatory framework governing the market.
- Detailed analysis of top market participant, including market share analysis and SWOT analysis.

Reasons to buy
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector
- Identification of key factors driving investment opportunities in the country’s power sector
- Facilitate decision-making based on strong historic and forecast data
- Develop strategies based on the latest regulatory events
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Identify key partners and business development avenues
- Identify key strengths and weaknesses of important market participants
- Respond to your competitors’ business structure, strategy and prospects.

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