By 2030, South Korea's coal-fired power generation will decline by 23% compared to 2019

According to the government's power plan, South Korea's coal-fired power generation is expected to be reduced by 23%
by 2030 compared to 2019.
This will reduce the power sector's annual coal consumption by around 18.
6 million mt/year
.

South Korea's Ministry of Energy and Industry said it will reduce coal's share of South Korea's electricity mix to 29.
9% by 2030, compared to 40.
29%
in 2019.
The plan also confirms the government's intention to convert KPCO's 24 coal-fired power stations into gas-fired power stations with a total installed capacity of about 12.
7GW.

Still, the share of natural gas in the electricity mix will fall from 25.
8% in 2019 to 23.
3%
in 2030.

The government also plans to generate 121.
7 TWh of electricity from renewable sources by 2030, accounting for 20.
8%, which means that the total electricity generation in 2030 will be about 585.
1 TWh, an increase of about 4%
from 2019.

On this basis, by 2030, the target 29.
9% coal share will be equivalent to 174.
9 TWh, down about 51.
9 TWh from 226.
8 TWh
in 2019.
This equates to a reduction of 62.
8 million mt/year of coal equivalent demand, 18.
6 million mt/year
less than in 2019.

According to the plan, by 2030, gas-fired power generation will be reduced by 8.
8 TWh from 2019 to 136.
3 TWh, equivalent to an annual LNG consumption of 16.
4 million mt in 55 high-efficiency power plants, 1.
06 million mt/year
less than in 2019.

At the same time, reduce the country's coal power capacity to 32.
6GW and increase natural gas power generation capacity to 55.
5GW
by 2030.
According to these targets, South Korea's coal capacity will be allocated at 61% load in 2030, compared to 70% load
in 2019.
Natural gas load ratios will fall to 28% by 2030, as fossil fuels will play a greater role in meeting peak electricity demand and less in baseload amid growing renewable energy generation
.