Current Situation

Emissions profile

In 2017, South Korea’s emissions were 713 MtCO2e, excluding LULUCF, mostly composed of CO₂ emissions from fuel combustion in the energy sector (86%).

Fuel combustion for electricity and heating is the main source of GHG emissions, accounting for 35% of the total, and these are overwhelmingly CO₂ emissions (99%). Fuel combustion for the production of steel and road transport also contributes significantly, accounting for 14% and 13% of total GHG emissions, respectively (again, 98% of this is CO₂ emissions). Outside the energy sector, industrial processes from cement production contribute 4% of total GHG emissions.¹

While the country’s emissions growth rate and emissions intensity of GDP has been declining over the last three decades, per capita emissions have shown a steady and consistent rise.² Current policy projections indicate that in 2030, South Korea’s emissions will be within a range of 649-691 MtCO₂e/yr, well above the 2030 emissions level required by the country’s current NDC – 501 MtCO₂e/yr excluding LULUCF, or 32% below 2018 levels.

Graph description

Historical emissions per gas and per sector. Last available LULUCF data point: -41.5 Mt CO2eq (2017)

Energy system

South Korea’s current fuel mix (as of 2019) is largely fossil fuel based with coal, natural gas, and oil comprising 29%, 18%, and 38% of the total primary energy mix respectively.³ Nuclear makes up another 14% while renewables, including biomass, comprise 2%. Coal’s share in electricity generation is 43%, followed by 25% for nuclear, 25% for natural gas, 2% for oil, and 5% for renewables, including biomass.

In recognition of the impacts of coal, such as air pollution, the South Korean government has placed a nationwide ban on the construction of new coal-fired power plants.⁴ The government’s coal phase-out plans include both an increase in renewable generation and the conversion of some existing coal units to natural gas.⁵^,⁶ Historically, South Korea has also made large financial contributions to international coal development, but recently committed to ending its support for coal plants abroad.⁷^–⁸ However, the government has somewhat backpedalled on their commitments, granting exemptions for coal plant retrofitting and related projects, even while major Korean financial groups have announced plans for carbon neutral portfolios.⁹

South Korea has also announced plans to move away from nuclear power and increase the amount of renewables in its generation mix.¹⁰ Nuclear energy has played a significant role in its energy mix since the 1970’s, making South Korea a country with the highest density of nuclear power plants in the world. However, following the 2011 Fukushima meltdown in Japan, public opinion turned against nuclear power, with many in the country voting to decrease nuclear’s share in the country’s energy mix.¹¹

The government has recently released its K-taxonomy, intended to guide sustainable finance. While nuclear has not been included as a suitable investment, gas and LNG have. Natural gas is not a transition fuel. Any investment in this fossil fuel is highly likely to lead to stranded assets and carbon lock-in.¹²^,¹³

Targets and commitments

Economy-wide targets

Target type

Base year emissions target

NDC target

Overall NDC target:

40% below 2018 by 2030 or 441 MtCO₂e/yr by 2030 including the use of international credits and land sinks.¹⁴^,¹⁵^,¹⁶

Domestic NDC target:

32% below 2018 by 2030 or 501 MtCO₂e/yr (excluding LULUCF and the use of international credits).¹⁷

Market mechanisms

The Korean Emissions Trading Scheme (K-ETS) was launched in January 2015 and currently, in its third phase (2021-2025), covers 73.5% of national GHG emissions (69 subsectors and 685 companies), with an auction volume of 10%.¹⁸^,¹⁹ For comparison, the EU ETS has a 57% auction volume.²⁰
The GHG Energy Target Management System, covers emitters that fall outside the scope of K-ETS.

Long-term target

A goal of carbon neutrality by 2050 announced through its 2050 Carbon Neutral Strategy and enshrined into law under the Carbon Neutrality act. The target covers CO₂ emissions only.²¹

Sectoral targets

Energy

KRW 61 trillion (USD 51.7 billion) will be invested by 2025 as a part of its Green New Deal.²²^,²³
Six pilot hydrogen-based cities will be created under Green New Deal to promote development of hydrogen production, storage, and utilisation.²⁴
Hydrofluorocarbon emissions from industrial processes will be reduced by 80% by 2045, once the Kigali Amendment to Montreal Protocol is ratified.²⁵ As of yet, it does not appear South Korea has ratified this amendment.

Power

Phase out of coal power generation in 2054.²⁶^,²⁷
Renewable energy capacity to expand to 78 GW (59% solar and 32% wind) by 2034. Up from 20 GW in 2019.²⁸
Plans to expand power generation from hydrogen fuel cells to 15 GW by 2040, up from current 308 MW in 2018.²⁹^,³⁰^,³¹
Increase power from distributed renewable energy resources to up to 30% by 2040.³²

Transport

10,000 EV charging stations and 310 hydrogen fuelling stations by 2022.³³
3 million electric vehicles and 850,000 hydrogen vehicles by 2030.
1.13 million electric vehicles and 200,000 hydrogen vehicles, and charging infrastructure (45,000 charging equipment, 450 hydrogen fuelling stations, hydrogen production bases, etc.) by 2025.³⁴
Current requirement that transportation fuel (diesel) contain a minimum of 3% biodiesel.³⁵
Green ships initiative targets a 70% reduction of GHG emissions in maritime shipping by 2030 compared to 2008 levels.³⁶

Buildings

A total of KRW 20 trillion is to be invested in “green remodelling” of 225,000 public rental homes and 2000 public buildings.³⁷
Additionally, 2835 schools will be remodelled into “green smart schools.” This is expected to reduce emissions by 190 kTCO₂.³⁸
Target of 38% reduction in energy intensity (TOE/million won) from 2017 levels by 2040.³⁹

Waste

Government is pushing for a phase out of plastics and a reduction in single-use waste by 2050.⁴⁰

Agriculture

Plans to deploy 7000 ha of “smart farms” and 5000 units of “smart livestock shelters” by 2022, along with three “smart fish farm clusters” by 2023.⁴¹

LULUCF

Ministry of oceans and fisheries plans to restore 20 mud flats with a total length of 4.5 km by 2025.⁴²

Greenhouse Gas Inventory and Research Center of Korea. 2019 National Greenhouse Gas Inventory Report. (2019). ↩
Population and GDP statistics from United Nations and World Bank databases respectively. ↩
Note that these fossil fuel power generators do not utilise carbon capture and storage technology. ↩
The government is also likely motivated by concerns over fine particulate matter emissions, a reason given by the Ministry of Environment for shutting down old coal-fired power plants early.[^43] ↩
Republic of Korea. Submission under the Paris Agreement: The Republic of Korea’s Enhanced Update of its First Nationally Determined Contribution. (2021). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Gokkon, B. Green groups target South Korea’s bailout of coal power plant builder. Mongabay (2020). ↩
Reuters Staff. S.Korea’s Moon vows to end new funding for overseas coal projects. Reuters (2021). ↩
Climate Action Tracker. South Korea. November 2021 update. Climate Action Tracker (2021). ↩
MOTIE. The 9th Basic Plan for Power Supply and Demand Strategic Environmental Impact Assessment. (2020). ↩
Chung, J.-B. Let democracy rule nuclear energy. Nature. (2018). ↩
Ng, C. IEEFA: Accepting gas as sustainable will hurt South Korea’s green finance credentials. IEEFA (2021). ↩
Dong-hwan, K. Is nuclear energy eco-friendly? EU Taxonomy to test Korea’s new definition. The Korea Times (2022). ↩
Republic of Korea. Submission under the Paris Agreement: The Republic of Korea’s Enhanced Update of its First Nationally Determined Contribution. (2021). ↩
Climate Action Tracker. South Korea. November 2021 update. Climate Action Tracker (2021). ↩
Note that South Korea excludes LULUCF in their base year emissions level (which are calculated using SAR GWP) but includes contribution from LULUCF sinks in their 2030 target. In addition, in September of 2021, the government enacted the “Framework Act on Carbon Neutrality and Green Growth,” or Carbon Neutrality Act, which stipulates a minimum emissions reduction level of 35% from 2018 levels by 2030 and “specifies procedures of implementing 2050 carbon neutrality vision”.[^44] ↩
Climate Action Tracker. South Korea. November 2021 update. Climate Action Tracker (2021). ↩
Republic of Korea. Submission under the Paris Agreement: The Republic of Korea’s Enhanced Update of its First Nationally Determined Contribution. (2021). ↩
Climate Action Tracker. South Korea. November 2021 update. Climate Action Tracker (2021). ↩
Climate Analytics. Transitioning towards a zero-carbon society: science-based emissions reduction pathways for South Korea under the Paris Agreement. (2020). ↩
Climate Action Tracker. South Korea. November 2021 update. Climate Action Tracker (2021). ↩
Republic of Korea. Submission under the Paris Agreement: The Republic of Korea’s Enhanced Update of its First Nationally Determined Contribution. (2021). ↩
South Korea’s previous NDC update stated that KRW 73.4 trillion would be invested by 2025 in three key pillars: KRW 30.1 trillion allocated for transition of green infrastructures, KRW 35.8 trillion for low-carbon and decentralised energy supply, and KRW 7.6 trillion for innovation in green industry.[^45] In July 2021 the Green New Deal was realigned to include a third pillar: laying a foundation for carbon neutrality.[^46] ↩
Republic of Korea. Submission under the Paris Agreement: The Republic of Korea’s Update of its First Nationally Determined Contribution. (2020). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Climate Analytics. Assessing the Health Benefits of a Paris-Aligned Coal Phaseout for South Korea. (2021). ↩
Based on unit level retirements given in 9^th Basic Plan for Power Supply and Demand. President Moon stopped issuing permits for new domestic coal-fired power plants at the beginning of his administration.[^47] ↩
MOTIE. The 9th Basic Plan for Power Supply and Demand Strategic Environmental Impact Assessment. (2020). ↩
Climate Action Tracker. South Korea. November 2021 update. Climate Action Tracker (2021). ↩
Stangarone, T. South Korean efforts to transition to a hydrogen economy. Clean Technol. Environ. Policy. 23, 509–516 (2020). ↩
South Korea currently produces hydrogen from petrochemical by-products and would likely need to utilise LNG for hydrogen production as demand grows. In the long term, the government is considering the use of green hydrogen. Of the 15 GW of hydrogen to be produced by 2040, the government plans that 8 GW will be used domestically and 7 GW will be exported.[^48] ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Republic of Korea. Submission under the Paris Agreement: The Republic of Korea’s Update of its First Nationally Determined Contribution. (2020). ↩
Climate Transparency. South Korea - Climate Transparency Report 2021. (2021). ↩
Ministry of Oceans and Fisheries of South Korea. “2030 Greenship-K Promotion Strategy” to Dominate the Global Green Ship Market. What’s News (2021). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Ministry of Education of the Republic of Korea. MoE Announces Plans for Green-Smart Schools of the Future (2020-07-17). (2020). ↩
MOTIE. Third Energy Master Plan. (2019). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩
Republic of Korea. 2050 Carbon Neutral Strategy of the Republic of Korea: Towards a sustainable and green society. (2020). ↩

What is South Korea's pathway to limit global warming to 1.5°C?