Siemens Study: With a diverse energy mix South Korea can increase security of supply and reduce emissions

On the Road to Daegu - Siemens Energy Round Table in Daegu

Daegu, (PresseBox) - .
- Power generation from coal set to decline significantly in South Korea between now and 2030
- As a result, the sector's CO2 emissions are expected to drop by one third
- Even a two-thirds reduction in CO2 emissions would be possible

The crucial challenge facing South Korea's energy sector is its high dependence on imported fuels. Being short of raw materials in general, the industrialized nation with its population of 50 million has for years ranked number 3 on the list of countries with the highest coal imports in the world. Only China and Japan import more coal than South Korea. No wonder that Korea has already taken action to drastically reduce its consumption of primary energy. The share of coal fuel in electric power generation is expected to drop from currently roughly 40 percent to probably around 16 percent by 2030, as a study carried out by Siemens shows. In line with this decline, CO2 emissions from the country's power sector are set to decrease by a third, although power consumption is likely to increase by about a quarter over the same period.

Further changes in the power mix could even make it possible to reduce the sector's CO2 emissions by up to two thirds, as two scenario analyses performed in the context of the study indicate. For instance, building even more high-efficiency gas-fired power plants than already planned could lower CO2 emissions still further, and increased exploitation of renewable energy resources would also help reduce both emissions and the country's dependence on imported fuels even more. A further possibility for diversification of the energy mix, and, thus, for enhancing the security of supply while lowering the CO2 footprint could be offered by placing greater emphasis on nuclear energy.

If Korea were to dispense completely with coal-fired power plants in favor of modern gas-fueled units by 2030, the sector's CO2 emissions would drop by a further third, and the country could save 9 million tons of imported oil equivalent per year. "Korea is already a pioneer in the efficient use of energy. A high number of gas-fired power plants featuring the highest possible efficiencies are being built here. We have already sold eight of our ultra-modern H-Class gas turbines in South Korea, which means the country accounts for one third of global demand," says Michael Süß, member of the Corporate Executive Committee of Siemens AG and CEO of Siemens' Energy Sector. "This is why we are expanding our business activities here and establishing a local headquarters for the Power Generation Division in Seoul."

In its global energy study, Siemens has examined regional situations with allowance for predicted future developments in various markets. The aim was to determine which approaches are best suited from national and global economic perspectives for creating reliable and sustainable energy systems with high efficiency but still at affordable electricity prices.

Siemens will be holding a round table discussion with authoritative energy experts at the World Energy Congress in Daegu, South Korea, on October 15, 2013, where it will present a global analysis of its study. The World Energy Congress is the world's most important conference in the energy sector and has been under way in Daegu since October 13, 2013.

In the lead-up to this congress, Siemens Energy Sector held a number of events at which a comprehensive picture was presented of the energy situation and the specific challenges facing various regions of the world. Experts from the political and business arenas, science and technology engaged in a dialog on the global and regional challenges involved. In addition, two bloggers traveled the world on behalf of Siemens, publishing their impressions of the energy systems they visited at blogs.siemens.com/theenergyblog

For further information on this topic, please go to siemens.com/wec

The free online "Power Matrix Game" provides a playful impression of the intricacies of modern power systems. Players can develop their own city, using components from the Power Matrix to match power supply system to their city's needs: powermatrixgame.com

On the Road to Daegu - Siemens Energy Round Table in Daegu

On the Siemens' "Road to Daegu", as preparation for the World Energy Congress (WEC) in Daegu, South Korea, the company hosted several Round Table discussions around the globe, where regional interim results of a global study conducted by Siemens were discussed. For Korea, the main challenge in the energy sector lies in the high dependency on imported fuels.

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