South Korea

Index rank 27

Energy Sustainability Index Rankings

 2010  2011  2012  Trend
Energy Performance  43  44  33 
Energy Security  63  83  61 
Social Equity  31  25  25 
Environmental Impact Mitigation  48  35  32 
       
Contextual Performance  21  19  20 
Political Strength  33  36  36 
Societal Strength  27  24  26 
Economic Strength  9  8  9 
       
Overall Rank  34  37  27 
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Fossil Fuel Resources

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Key Metrics

Industrial sector (% of GDP) 39.2
TPEP / TPEC  (net energy importer) 0.15
Emission intensity (kg CO2 per USD) 1.32
Energy affordability (USD per kWh) 0.10
GDP / capita (PPP, USD); GDP Group 30,042 (B)
Energy intensity (million BTU per USD) 0.02
CO2 emissions (metric tons) / capita) 10.81
Population Access to Electricity (%) 100.0
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Index Commentary

Korea experienced a significant jump of ten spots in the Index to rank 27. An increase in the wholesale margin on gasoline, slightly more diversified electricity production and stronger oil reserve stocks led to a substantial rise in energy security. However, at rank 61, this dimension is still the weakest. Due to a better quality of air and water and overall lower environmental impact, Korea was able to outperform other countries in mitigating its environmental footprint given its increasing level of energy intensity per capita, leading to an improvement in its environmental performance. The contextual performance as well as the social equity score remains mostly unchanged.

Trends and Outlook

Energy Security remains a major challenge with a very low stability of resource supplies and an energy import dependency of around 97%. As a counter measure Korea (Republic) has invested in overseas resource development but this brings new challenges such as low production capacity, lack of human resources, technical skills, etc. Environmental impact mitigation calls for action given high energy intensity levels, growing energy consumption and increasing GHG emissions. Recent policy measures to enhance energy security include: 1) expanding cooperation with resource-rich countries; 2) strengthening the competitiveness of energy developing companies; and 3) establishing the Overseas Resource Development Fund to fund energy development projects in addition to giving government loans and guarantees. In terms of environmental impact mitigation policy measures include: 1) the expansion of renewable energy with targets until 2030; 2) the shift from government-financed feed-in-tariffs to a renewable portfolio standard in 2012 to create new demand for renewable energy; and 3) the strong support of R&DD. Nuclear energy plays an essential role in the countries energy system in terms of energy security, economics, climate change and load demand. Policymakers need to continue focusing on: 1) the enhancement of overseas energy development; 2) the development of renewable energy; and 3) the expansion of the nuclear power sector considering safety issues, waste disposal, and increasing public acceptance by providing objective information and being transparent.