The Korea Power Exchange (KPX), South Korea’s power market operator, has reported that installed renewable capacity reached 41 GW on 21 October 2026, overtaking coal (40.7 GW) for the first time, by 283 MW (pv magazine, 23/10/2026). Renewables are only second after LNG at 46.8 GW, reaching 25.4% of installed capacity. Nuclear stands at 26 GW. Renewable capacity grew by an average of about 3.5 GW/year from the end of 2020 to the end of 2025, against about 807 MW/year for LNG.
The country aims to reach 100 GW of renewable capacity by 2030, which would require roughly 15 GW of additions per year from 2027. According to the government, large offshore wind projects are expected to start commercial operations alongside new solar projects, having about 10 GW of renewable capacity scheduled to become operational in 2027.
KPX opened a storage tender in September 2026 for 1,100 MW / 6.6 GWh of six-hour storage on the mainland and 80 MW/480 MWh on Jeju Island, with 15-year contracts. Winners are to be announced in November 2026, and commissioning is required by February 2029.
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