On April 6, South Korea's Ministry of Climate, Energy, and Environment announced a plan to raise the share of renewable energy generation to at least 20% by 2030, aiming to reduce heavy reliance on imported energy and meet rising electricity demand from the growth of high-end industries.
Under the plan presented at a cabinet meeting, the country will significantly scale up solar and wind power, expanding renewable energy capacity to 100 GW by 2030 and gradually phasing out 60 coal-fired power plants by 2040. The ministry also stated that it aims to raise the share of new energy vehicles in new car sales to 40% by 2030.
Written by Cora Ji, jiruyan@mysteel.com
