South Korea Aims for 100GW Renewable Energy by 2030 with K-GX Strategy

The South Korean government is pushing to achieve an early target of 100 gigawatts (GW) of renewable energy by 2030. The plan includes expanding the supply of carbon-free energy sources such as solar and wind power, and it aims to establish a 'Korean Green Transition (K-GX)' strategy by the end of the year to ensure a stable supply of carbon-free electricity for three major megaprojects, including semiconductor and artificial intelligence (AI) data centers.

On July 14, the government discussed and announced these plans during a Cabinet meeting as part of its '2026 Economic Growth Strategy for the Second Half of the Year.' The government aims to reduce reliance on fossil fuels and secure new growth engines through the expansion of renewable energy and the cultivation of green industries. The K-GX strategy is expected to be unveiled in the third quarter of this year.

The acceleration of renewable energy expansion is driven by the need to provide stable carbon-free electricity to the rapidly growing semiconductor and AI industries while enhancing energy security. This strategy also aims to respond to the restructuring of international supply chains and the tightening of carbon regulations, while fostering green industries as a new growth engine for future development.

The government plans to focus on increasing the supply of renewable energy, particularly solar and wind power. Solar capacity is set to grow from 30.8 GW last year to 87 GW by 2030, while wind capacity will increase from 2.5 GW to 9 GW. This expansion aims to enhance the foundation for carbon-free electricity supply, diversify energy sources, and reduce dependence on fossil fuel imports, thereby increasing energy self-sufficiency.

To lower the cost of renewable energy generation, the government will also pursue regulatory reforms. It is considering mandating large power producers to invest in renewable energy facilities to expand large-scale projects and achieve economies of scale. By increasing the size of power generation facilities, the government aims to reduce generation costs and encourage private investment to accelerate the deployment of renewable energy.

Efforts to strengthen the competitiveness of green industries will also be intensified. The government plans to support the commercialization of key technologies in next-generation energy industries, including renewable energy, small modular reactors (SMRs), and electric vehicles, while expanding domestic production capabilities. Wind power technology will be advanced with ultra-large turbine innovations, and the electric vehicle sector will enhance the competitiveness of batteries and drive motors to secure supply chain stability and price competitiveness.

Additionally, large-scale policy financing will support these initiatives. The government plans to provide 790 trillion won in policy financing for climate-related projects from 2026 to 2035, with more than half allocated to local areas and over 70% directed to small and medium-sized enterprises. Alongside this, a 'Second Basic Plan for Climate Change Response Technology Development (2027-2031)' will be established in September to actively promote the commercialization of carbon-free energy technologies and climate tech.