Fuelling South Korea’s transformation

South Korea's rapid industrialization since the 1960s was driven by energy-intensive industries, leading to a fivefold increase in total primary energy supply between 1980 and 2009. This growth created a high dependency on energy imports, with 96.4% of energy imported as of 2008, and a fossil-fuel oriented structure where 84.2% of consumption came from fossil fuels in 2009. To address these vulnerabilities and climate change, Korea introduced a 'green growth' vision in 2008 and the Green New Deal in 2009, allocating approximately US$ 38.1 billion from 2009 to 2012. The Framework Act on Low Carbon Green Growth targets a 30% reduction in greenhouse gas emissions by 2030 compared to business-as-usual levels. The government is targeting an increase in renewable energy's share of primary energy from 2.5% to 11% by 2030, with significant growth already noted in solar PV, wind, and fuel cells between 2005 and 2009.

• South Korea's economic rise since the 1960s was powered by energy-intensive sectors like shipbuilding, automobiles, steel, and petrochemicals, resulting in a total primary energy supply increase from 43.9 million tons of oil equivalent (toe) in 1980 to 243.3 million toe in 2009.
• The country is highly dependent on foreign energy, importing 96.4% of its energy as of 2008 at a cost of US$ 91.2 billion, and was the world's second, third, and fifth largest importer of liquefied natural gas, coal, and crude oil, respectively.
• To transition to a sustainable economy, Korea implemented the Green New Deal in 2009, allocating roughly US$ 38.1 billion between 2009 and 2012, and enacted the Framework Act on Low Carbon Green Growth to reduce greenhouse gas emissions by 30% by 2030 relative to business-as-usual levels.
• South Korea aims to increase the share of renewables in its primary energy supply from 2.5% to 11% by 2030, supported by growth in solar PV and wind generation, which increased nearly 40 times and fivefold, respectively, from 2005 to 2009.

APA

Seung-Soo, H. (2012). Fuelling South Korea’s transformation. World Economic Forum. https://www.weforum.org/stories/energy-transition/fuelling-south-koreas-transformation/

Chicago

Seung-Soo, Han. Fuelling South Korea’s transformation. World Economic Forum, 2012. https://www.weforum.org/stories/energy-transition/fuelling-south-koreas-transformation/.

Wikipedia

{{cite press release |last1=Seung-Soo |first1=Han |title=Fuelling South Korea’s transformation |publisher=World Economic Forum |date=1 March 2012 |url=https://www.weforum.org/stories/energy-transition/fuelling-south-koreas-transformation/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{seungsoo2012fuelling, author = {Seung-Soo, Han}, title = {{Fuelling South Korea’s transformation}}, publisher = {World Economic Forum}, year = {2012}, month = mar, url = {https://www.weforum.org/stories/energy-transition/fuelling-south-koreas-transformation/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }