Power Generation, Transmission & Distribution 2025
Currently, independent power producers, including six power generation public corporations (GENCOs), are engaged in the electricity generation business.
On 30 May 2024, the “Regulation on the Operation of the Power Grid Impact Assessment System” was proposed, subjecting all regions of South Korea to power grid impact assessments and outlining specific criteria, methods, and procedures for these assessments.
In the electricity business industry, including the power supply market, South Korea does not specifically restrict the market dominance of specific operators in terms of market share. As mentioned, competition in the power generation market has been introduced, but KEPCO and GENCOs still account for approximately 60% of the total power generation.
A system management substation in South Korea means a substation designated by KEPCO as having saturated access capacity. Output of power generation facilities connected to such substations may be controlled even if nearby substations and transmission lines have spare capacity.
Under the Electricity Network Expansion Act, the South Korean government plans to lead the development of a national core power grid, prioritise electricity use at production sites, and shorten the local consultation period to 60 days.
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