South Korea Energy Market Size, Share, Latest Insights and Forecast 2025-2033
IMARC Group has recently released a new research study titled “South Korea Energy Market Size, Share, Trends and Forecast by Type, Application, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Energy Market Overview
The South Korea energy market size reached 603.8 TWh in 2024 and is expected to grow to 827.7 TWh by 2033, exhibiting a CAGR of 3.30% during the forecast period 2025-2033. Significant growth is driven by a strong push toward renewables, nuclear expansion, and cleaner technologies. Policy reforms, energy security objectives, and decarbonization efforts are shaping investments and diversifying the country's overall energy mix.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
South Korea Energy Market Key Takeaways
- Current Market Size: 603.8 TWh in 2024
- CAGR: 3.30% during 2025-2033
- Forecast Period: 2025-2033
- South Korea is accelerating its transition toward renewable energy, supported by government incentives for solar, wind, and hydrogen development.
- The government aims to sustain nuclear power's share at 30% by 2030 and is investing KRW150 billion in 2025 to expand nuclear capacity.
- Major renewable projects include a $300 million investment by Vena Energy in the 384MW Yokji Offshore Wind Project.
- The country plans to increase renewable energy capacity to 7 GW annually and reduce coal generation significantly by 2038.
Sample Request Link: https://www.imarcgroup.com/south-korea-energy-market/requestsample
