Where the End of Energy Price Controls Leads

The war between the United States and Iran, which broke out on February 28, has entered a two-week ceasefire, but tensions surrounding the Strait of Hormuz, considered the energy lifeline of the Middle East, remain high. The much-anticipated negotiations have broken down, and the United States has imposed a blockade on the Strait of Hormuz. International oil prices are surging again. This war has clearly exposed the vulnerability of South Korea's energy structure. South Korea relies on imports for 93% of its energy supply. Fossil fuels account for 80% of its primary energy, and 70% of crude oil is imported from the Middle East. As a result, South Korea is experiencing a greater shock than the United States, which is a party to the conflict. After the Middle East war caused a sharp rise in prices of petroleum products such as gasoline and diesel, the government revived the petroleum price ceiling system, which had disappeared 30 years ago. This has been in effect since the 13th of last

2026.04.13 09:29

AI-Driven Energy Transition: Expanding Roles for Batteries

Since March 11, "InterBattery 2026," the largest battery exhibition in Korea, has been taking place at COEX in Seoul. If there is one overarching theme running through this year's event, it is artificial intelligence (AI). AI is bringing about sweeping changes in the battery industry as well. The most essential requirement for expanding AI is power infrastructure. Major U.S. big tech companies such as Microsoft (MS), Google, Meta, and Amazon are prioritizing renewable energy sources like solar and wind power when building AI data centers. In 2024, MS signed a direct purchase agreement (PPA) for 10.5 GW of renewable energy with Brookfield. To ensure the stable supply of highly volatile renewable energy, energy storage systems (ESS) are indispensable. This is the reason why demand for ESS has surged, particularly in North America. During his keynote speech at this exhibition, Je Young Kim, Chief Technology Officer (CTO) of LG Energy Solution, introduced a forecast from SNE Research stati

2026.03.13 10:01

Industry Minister Kim Jeonggwan Must Attend Even "Showcase Events"

Industry and Trade Minister Kim Jeonggwan said during the presidential work briefing in December last year that he was pushing ahead with a project to "reduce fake work by 30 percent," for which he was praised by President Lee Jaemyung. Minister Kim said, "After I took office, I told my staff not to hold events just for show, but because there are so many sectors, the number of events is beyond imagination," adding, "These are also created using taxpayers' money, so it seems only normal not to create such events." While the intention to improve inefficient administrative practices is understandable, it is hard to agree with the statement that "it seems only normal not to create such events." As he himself said, the areas under the jurisdiction of the ministry are beyond imagination, and they absolutely require the minister's attention. Former industry ministers did not attend such "showcase events" because they failed to recognize them as such. It is because, without at least forcing t

2026.02.06 10:05

Why New Zealand with 85% Renewable Energy Can't Abandon Fossil Fuels

New Zealand, located in the Oceania region of the Southern Hemisphere, is characterized by its mountainous terrain and numerous lakes, with evenly distributed rainfall throughout the year. This environment led to the early development of hydropower in the country. As of now, hydropower accounts for 60% of New Zealand’s total electricity production. Taking advantage of its geologically active volcanic landscape, the country has also built geothermal power plants in various locations. In the Taupo volcanic zone on the North Island, geothermal power plants that generate electricity using underground heat and steam are a common sight. Geothermal power makes up about 20% of New Zealand’s total energy generation and serves as a base-load energy source. Thanks to its abundant hydropower and geothermal energy, New Zealand has established itself as a global role model for eco-friendly energy. As of 2024, the share of renewable energy in New Zealand reached 85.5%. However, in 2024, New Zealand f

2026.01.02 10:29

Chasing Three Goals in Offshore Wind Power

"There is plenty of enthusiasm, but nothing is actually prepared." This was the lament of a senior official in the domestic wind power industry when asked recently about the outlook for offshore wind power. On November 11, the government finalized the Nationally Determined Contribution (NDC) for 2035 at a Cabinet meeting. The power sector must reduce greenhouse gas emissions by 68.8% to 75.3% compared to 2018 levels. This leaves no choice but to accelerate the adoption of renewable energy. The plan is to expand renewable energy generation capacity from 34GW as of the end of last year to 100GW by 2030, and to more than 150GW by 2035. Offshore wind power, which enables the construction of power plants with capacities of several hundred megawatts at a time, is a key means for this energy transition. The reality is far from easy. The total projected generation capacity of offshore wind projects selected through tenders held from 2023 to this year amounts to 4GW. Of these, only one project

2025.11.14 10:49

How to Make Cheap Nuclear Power Expensive

In August of last year, Ghana in Africa signed a contract to introduce the small modular reactor (SMR) "Voygr" developed by the American company NuScale. Ghana and NuScale plan to build 12 SMR modules, each with a capacity of 77MW. This would allow them to generate 924MW of electricity, similar to the output of a large-scale nuclear power plant. If the project proceeds smoothly, it will mark the first case of SMR adoption in Africa. The main beneficiary is expected to be Doosan Enerbility, which is the second-largest shareholder and a key partner of NuScale Power. The reason underdeveloped African countries are showing interest in SMRs is to address their severe power shortages. Rapid economic growth requires affordable and stable electricity, and they believe SMRs can fulfill this role. In addition to Ghana, several countries including Kenya, Uganda, Togo, and Ethiopia are also interested in introducing nuclear power plants, including SMRs. Leading nuclear power countries such as the

2025.09.26 10:22

President Lee, Start by Visiting the Hanam Substation

On August 13, the Presidential National Policy Planning Committee announced two types of expressways as part of its national policy agenda. One is the Energy Expressway, and the other is the Artificial Intelligence (AI) Expressway. Although they may seem unrelated, the two are actually interconnected. The Energy Expressway is a pledge that President Lee Jaemyung has advocated since his candidacy. The Policy Planning Committee introduced the Energy Expressway as a policy that can achieve both economic growth and carbon neutrality. The Energy Expressway involves constructing a high-voltage direct current (HVDC) transmission network under the sea to efficiently deliver electricity generated in Honam, a region rich in renewable energy resources, to areas with high demand. High-voltage direct current transmission is a method that converts alternating current produced at power plants into direct current for transmission. On the receiving end, a device is needed to convert the direct current

2025.08.22 09:56

Why Don't UK Officials Talk About RE100?

Not far from Tower Bridge, one of London's most famous tourist attractions along the Thames River, stands a building called the Clove Building. The Climate Group, a UK-based non-profit organization widely known in Korea for its RE100 (100% renewable energy use) campaign, occupies the fourth floor of this building. When I visited London last month for offshore wind power training, I had the opportunity to stop by the Climate Group headquarters and meet with their representatives. The Climate Group representatives were well aware that President Lee Jaemyung mentioned RE100 in his inaugural address and spoke highly of it. They emphasized that Korea has significant renewable energy potential and that political will is crucial for expanding renewable energy. They also pointed out that the share of renewables in Korea's overall power generation mix is only 10%, which is low compared to other advanced countries. Regarding the use of nuclear power, the Climate Group representatives stated, "Co

2025.07.18 09:28

Expanding Renewable Energy: Gaining Public Support Comes First

Under the Lee Jaemyung administration, South Korea's energy policy is expected to undergo a major transformation. During the presidential campaign, President Lee Jaemyung strongly expressed his commitment to achieving a carbon-neutral society by expanding renewable energy. To implement this vision, the government is currently undergoing organizational restructuring, including the establishment of a Ministry of Climate and Energy. What differentiates this approach from the previous Democratic Party administration under President Moon Jaein is the emphasis on a rational energy mix of renewables and nuclear power. The new administration recognizes the role of nuclear power as a baseload energy source in order to expand renewables. There is also significant focus on securing a power grid that can reliably supply renewable energy. This is to avoid repeating past mistakes, when a rapid increase in renewables without the necessary power infrastructure led to side effects such as output contro

2025.06.20 09:37

The Hidden Strength of Korean Nuclear Power That We Don't Fully Know

"I want to let the world know about the superpower you possess but may not fully realize." When Chris Anderson, head of the global knowledge-sharing platform TED, made this remark during his keynote speech at the '2025 Korea Nuclear Annual Conference' held on April 29, I could hardly believe my ears. I thought it was just a formality, but it was not. His words were sincere. Anderson, who believes that nuclear power will solve the global energy shortage, has invested in ThorCon, a US molten salt reactor (MSR) startup. Whenever he has the chance, he advocates for ThorCon's potential. ThorCon is a type of floating nuclear power plant constructed in shipyards using shipbuilding methods. Korea's advanced shipbuilding technology could play a key role in making ThorCon a reality. Korean shipbuilders are already participating in the offshore nuclear reactor business. In February last year, HD Hyundai held a molten salt reactor technology exchange with Core Power, a UK-based offshore nuclear de

2025.05.02 11:40