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

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."