South Korea will lower the greenhouse gas (GHG) emission reduction target for the industrial sector: under the adjusted target, the industrial sector will be required to cut its GHG emissions by 11.4% from the 2018 levels by 2030, compared with the previous reduction target of 14.5% (originally set in 2021), according to the South Korean Presidential Commission on Carbon Neutrality and Green Growth. However, South Korea will maintain the overall target to reduce total emissions by 40% by 2030 compared with 2018 levels.
The commission cited difficulties in supply of raw materials and technology prospects as a reason for the adjustment. The gap will be filled by cutting coal-fired power generation, switching more energy sources to renewables, increase energy production by nuclear power plants and making more reductions overseas. Indeed, the target to reduce emissions in the renewable energy sector will be raised to 45.9% from the 2018 levels by 2030, compared with the previous target of 44.4%.
In January 2023, the new South Korean Government announced new plans to boost nuclear energy to 32.4% of total power generation by 2030, up from 26% in 2021, and renewables to at least 21.6% of power output, from about 9% in 2021.
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