South Korea's New Ministry Outlines Energy, Environment Goals
South Korea's newly established Ministry of Climate, Energy and Environment, led by Minister Kim Sung-whan, has outlined its priorities. It aims to balance energy and environmental goals, considering the concerns of various sectors, including the auto industry.
Kim Sung-whan will review the previous administration's strategy for meeting the Nationally Determined Contribution (NDC) target of reducing greenhouse gases by 40 percent by 2030. He will also address the challenge of meeting the 2035 NDC target, taking into account the auto industry's concerns about full electrification in just 10 years.
The ministry will draft the 12th Basic Plan for Long-term Electricity Supply and Demand (BPE), considering a 10-year timeline for nuclear plant construction. This plan will help balance energy supply and demand, ensuring a stable energy mix.
Kim Sung-whan will prioritize the Korean energy mix when energy and environmental goals conflict during implementation. He plans to promote technological innovation, enhance policy coordination, and encourage stakeholder dialogue to resolve these conflicts.
The ministry will also secure water resources for climate crisis adaptation, responding to increasing droughts and floods. It aims to balance the goals of energy and environmental sectors, which historically checked and balanced each other. With these plans, Minister Kim Sung-whan hopes to achieve a comprehensive energy plan involving renewables, nuclear energy, and reduction of fossil fuels during his tenure.
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