South Korea is gearing up for a significant boost in its nuclear power generation, with projections indicating an increase to 222.7 terawatt-hours by 2035. This growth reflects a compound annual growth rate (CAGR) of 2.4% from 2024 to 2035, according to insights from GlobalData.
The recent report titled “South Korea Power Market Outlook to 2035, Update 2025 – Market Trends, Regulations, and Competitive Landscape” reveals that the nation’s nuclear power capacity rose to 24.4 gigawatts (GW) in 2024, up from 23.2 GW in 2020. This capacity is expected to expand further to 29.8 GW by 2035, marking a steady growth of 1.8% over the same period.
Nuclear energy plays a crucial role in fueling nearly one-third of South Korea’s electricity needs. Currently, the country operates 25 reactors, with four more under construction to help meet the escalating energy demands. Attaurrahman Ojindaram Saibasan, a senior power analyst at GlobalData, highlighted South Korea as a major energy consumer and one of the world’s top greenhouse gas emitters.
Saibasan pointed out that while the nation depends heavily on both thermal and nuclear power to meet its electricity requirements, this approach contributes to rising emissions. The country’s reliance on fossil fuels for thermal power—compounded by limited natural resources—forces South Korea to import coal and gas, which can be a costly endeavor. It seems some compromises will have to be made on the path to cleaner energy.
In line with its ambitious energy strategy, the South Korean government plans to enhance the share of nuclear power in its electricity generation to 35.2% by 2038. This target will be supported by the construction of three additional reactors along with a small modular reactor, contributing an extra 4.4 GW to the grid. Notably, South Korea is not just looking inward; the country aims to become a global leader in nuclear energy, aspiring to secure contracts for the construction of ten nuclear reactors overseas by 2030.
What is the projected nuclear power generation for South Korea by 2035?
South Korea is expected to increase its nuclear power generation to 222.7 terawatt-hours by 2035.
How much does nuclear energy currently contribute to South Korea’s electricity needs?
Nuclear energy accounts for nearly one-third of South Korea’s electricity consumption.
What are South Korea’s plans for nuclear energy exports by 2030?
The country aims to become a leading exporter of nuclear energy, targeting contracts for the construction of ten nuclear reactors overseas by 2030.
