Central & SE Asia / Australasia
Country profile: South Korea
| Location: | Eastern Asia, southern half of the Korean Peninsula bordering the Sea of Japan and the Yellow Sea |
| Climate: | temperate, with rainfall heavier in summer than winter |
| Terrain: | mostly hills and mountains; wide coastal plains in west and south |
| Size: | 98480 sq. km total (Land area: 98190 sq. km Water area: 290 sq.km) |
| Population: | 49,232,844 (July 2008 est.) |
| Languages: | Korean, English widely taught in junior high and high school |
| Government: | republic |
| Capital city: | Seoul |
| Legal system: | combines elements of continental European civil law systems, Anglo-American law, and Chinese classical thought; has not accepted compulsory ICJ jurisdiction |
| Currency: | South Korean won (KRW) |
| Licensing: |
Country profile
With limited domestic energy resources, South Korea is almost entirely dependent on imports to meet its energy consumption needs. South Korea is the fifth-largest net importer of oil in the world, and a significant importer of liquefied natural gas (LNG). Oil makes up the greatest share of South Korea's total energy consumption, though its share has been declining gradually in recent years. Oil supplied 50 percent of South Korea’s total energy consumption in 2004, compared with 65 percent in 1994. This decline in oil’s share in consumption reflects faster growth in natural gas and to a lesser extent coal over the period.
Coal is South Korea’s second-largest source, supplying 24 percent of primary energy consumption needs in 2004, followed by modest contributions from nuclear power (14 percent) and natural gas (12 percent). Hydropower and other renewable energy sources make up a small fraction of South Korea’s total energy consumption mix.
Energy production and consumption
| Oil | Gas | |
| Production: | 17,050 bbl/day (2005) | 1 billion cu m (2006) |
| Consumption: | 2 million bbl/day (2005) | 34 billion cu m (2006) |
| Exports: | 2,450 cu m (2006) | |
| Imports: | 2 million bbl/day (2004) | 35 billion cu m (2006) |
| Reserves: | ||
| Major fields: |
South Korea - recent news
| 08 Apr 24 |
South Korea: Korea: RWE awarded Electricity Business Licence for the development of Seohae offshore wind farm RWE has been awarded a 495-megawatt (MW) Electricity Business Licence (EBL) by the Ministry of Trade, Industry & Energy of Korea to develop the Seohae offshore wind project, located approximately 45 kms off the coast of Taean County in South Korea’s Chungcheongnam Province. |
| 01 Apr 24 |
South Korea: Vestas secures 77 MW order in South Korea Vestas has secured a 77 MW order with GS E&R for the YD1 Wind Farm in Gyeongsang-do, South Korea. Delivery of the turbines will begin in first quarter of 2025, with commissioning scheduled for 2026. |
| 27 Feb 24 |
South Korea: Ørsted and Incheon City sign MoU to establish world-class offshore wind power industry in Korea’s Incheon region Ørsted has signed an MoU with Incheon Metropolitan City, Korea, to cooperate on developing a world-class offshore wind power industry in the region. The aim of the agreement is to establish a successful local wind power industry driven by Ørsted’s 1.6 GW offshore wind project off the coast of Incheon. |
| 29 Dec 23 |
South Korea: Vestas selected as preferred supplier for the 390 MW Shinan Ui offshore wind project in South Korea Vestas has signed a preferred supplier agreement with Hanwha Corporation E&C Division for the 390 MW Shinan Ui offshore wind project in Shinan County, South Jeolla Province, South Korea. |
| 30 Nov 23 |
South Korea: Ørsted secures 1.6 GW electricity business license for offshore wind project off the coast of Incheon Ørsted has been granted a 1.6 GW electricity business license (EBL) by the Ministry of Trade, Industry & Energy of Korea for an offshore wind project located 70 km off the coast of Incheon City. |
South Korea - more news
Other countries in this region
- Australia,
- Bangladesh,
- Brunei,
- Cambodia,
- China,
- Fiji,
- Hong Kong,
- India,
- Indonesia,
- Japan,
- Laos,
- Malaysia,
- Maldives,
- Mongolia,
- Myanmar,
- Nepal,
- New Zealand,
- North Korea,
- Pakistan,
- Palau,
- Papua New Guinea,
- Philippines,
- Singapore,
- Sri Lanka,
- Taiwan,
- Thailand,
- Timor Leste,
- Vietnam
