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South Korea - Smart Grid Revolution
Zpryme Research & Consulting (ZRC)

This document highlights South Korea's rich and determined plan for a completely integrated smart grid by 2030. Currently the nation buys all its energy needs from overseas. With smart grid implementation import of coal, gas and oil will reduce. South Korea will enjoy other positive impacts such as saving on energy production, new job creation, obtaining significant market share in smart grid technologies & equipments market, etc. One of the main motivations is their national vision of "Low Carbon Green Growth" for the next 50 years. Recognizing smart grid as the key solution to achieve Low Carbon Green Growth vision, in 2009, Korea announced its National Smart Grid Roadmap and came up with a proactive and ambitious plan to build a smart grid test-bed on Jeju Island. The Jeju smart grid demonstration project has 168 Korean and foreign companies participating and is the largest scale of smart grid test-bed carried out in Korea. Korea plans to develop new business models through the test-bed and hope to contribute to global GHG reduction goals. Korean government's role, their international role, their policies, smart grid technologies market, etc. are discussed in this document, too.

This information was submitted by Jeremy Laundergan, Director, Utility Services Consulting, EnerNex, jlaundergan@enernex.com on 08/31/2011.

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