There have been several relatively new initiatives set forward by Yoon Suk-yeol and his predecessor Moon Jae-in, though their respective plans are quite different.

President Yoon has placed a heavy emphasis on the development and future use of nuclear energy. At present he has set forward a plan for achieving 34.6% share of South Korean electricity by 2036. However, President Yoon has decided to double down by looking to achieve 45% by 2040. This increase will come from technological developments of reactors for higher energy output and more efficient reactors that we will also look to export. 45% is likely the most that we will allow nuclear energy to power given the need to ensure diversification.

By 2030, we should be achieving 35% of electricity generation of South Korea. While this is ambitious, President Yoon has set plans forward for 45% of electric generation of South Korea by 2040. Therefore, by 2040 45% of energy will be sourced from nuclear and another 45% from renewable energy, which means roughly 90% will be from overall renewables. The 45% of renewables will encompass all wind, solar, and hydro developments. The priority will be solar and wind given the climate/geographical issues with Korea regarding the usage of hydro. The last 10% will be through thermal energy, though the goal is to eventually even phase this out, though there is some argument to maintain this small amount of thermal usage for diversification.

Building up electric grid storage is also important goal for South Korea. Hyundai Electric has already built a 150 MW grid storage battery in Ulsan. These grid batteries will be critical in case of grid failures or power loss. Developing these batteries to have greater capacity as well as building more of them is another priority for the current administration. The plan is for each major city to have several of these grid batteries in order to provide coverage for our entire population.

In addition to these government programs for expansions, incentives will be made for Korean citizens to begin using alternative energy vehicles, renewable energy appliances, and installation of solar panels on their homes. Providing tax rebates and discounts, we hope the government programs will drive the effort among the population as well.