According to Pulse by Maeil Business News Korea,

South Korea will achieve near to complete zero carbon emission through LNG replacement or entire phase-out from coal or gas-powered generation by 2050, according to its action plan for carbon neutrality goal.

The country aims to reduce greenhouse gas emissions by 96.3 percent to 100 percent versus 2018 when the country released 686.3 million tons by 2050. For the goal, it plans to completely stop power generation from coal and liquefied natural gas (LNG) or minimize such activities under three scenarios, according to the outline released by the presidential committee on carbon neutrality on Thursday.

The committee will collect feedback on each scenario from industry experts and the general public until September. The final plan will be announced in late October after the legislative approval.

The country would be able to achieve a 96.3 percent cut in greenhouse gas emissions, releasing a total of 15.4 billion tons, by 2050 if it manages to carry out all action plans laid out under scenario 1 which bases the sustainment of seven coal power generators until their life.

It would be able to reduce the emissions by 97.3 percent under scenario 2 through suspension of coal-powered generators and replacement with LNG fuel.

It aims to net-zero emission under the third scenario when coal or LNG-based generation will become completely suspended and power sourcing comes entirely from renewables.

Under scenario 1, reliance on coal for power generation will be scaled down from current 41.9 percent to 1.5 percent by 2050, on LNG from 26.8 percent to 8.0 percent, while expanding the use of renewable energy sources from current 5.6 percent to 56.6 percent. Fuel cell usage will also be boosted from 0.3 percent to 9.7 percent.

Scenario 2 involves a complete suspension of coal power plants while flexibly sourcing power from LNG generators.

It aims to generate electricity 58.8 percent from renewable sources and 10.1 percent from fuel cells.

Scenario 3 proposes using none of fossil energy sources, including coal and natural gas.

The country would source 70.8 percent of its electricity needs from renewable energy sources and 21.4 percent from other carbon-free sources such as ammonia and hydrogen turbine-based power generators.

Power generation from nuclear reactors will not be affected in any of the scenarios. But the share to power sourcing will be reduced to 6.1 percent-7.2 percent from 23.4 percent in 2018.

The committee also plans to aggressively promote the use of eco-friendly cars.

It aims to replace 97 percent of cars on the road with those running on eco-friendly sources like lithium-ion batteries, hydrogen fuel cells. This is expected to reduce the transport sector’s emissions by up to 97.1 percent.



By Cho Jeehyun

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (August 5, 2021)