The historical data for nuclear energy consumption in South Korea from 2013 to 2023 indicates fluctuations. Consumption dipped significantly in 2017 and 2018 but has generally been on an upward trend since 2019, achieving 1.61 Exajoules in 2023. Year-on-year growth has been volatile, with an approximately 1.45% increase in 2023 following a stronger 11.06% increase in 2022. Over the past five years, the CAGR stood at 5.69%, suggesting a recovery in nuclear energy consumption.
For the forecasted period from 2024 to 2028, nuclear energy consumption is expected to continue its upward trajectory, with a forecasted 5-year CAGR of 1.01% and a total growth rate of 5.15% by 2028. Despite being slightly slower than the recent historical CAGR, it indicates continued reliance on nuclear energy.
Future Trends to Watch:
- Government policies and regulatory changes impacting nuclear energy investment.
- Technological advancements in nuclear energy efficiency and safety.
- Public opinion and policy direction towards renewable energy sources versus nuclear.
- Impacts of global energy market trends on domestic nuclear energy strategies.
