The Korean Electricity Market: Stuck in Transition

Abstract

This chapter describes the evolution of the Korean electricity industry over the past three decades focusing on recent efforts to restructure and reform the market. The restructuring process has stalled due to strong opposition and controversy, leaving the country with an unfinished reform agenda. The issues associated with an industry stuck somewhere between its former stage and where it was intended to be are discussed. The chapter also describes Korea's long-term energy policies and a host of interrelated challenges including the future energy mix and the role of nuclear power, climate change, renewable resources, and smart grid.