H. Yoo
Research expert covering South Korea
Public energy companies in South Korea - statistics and facts
The energy sector in South Korea is largely run by public enterprises affiliated with different ministries of the South Korean government. Such companies generate energy using a variety of methods. As one of the biggest energy consumers worldwide, it is important to secure enough energy to support the various operations and activities that happen domestically. On top of being a vital part of the economy, public corporations are also a sought-after workplace mostly due to the financial stability such companies provide.
The largest public company in South Korea
The largest public company in the sector is Korea Electric Power Corporation, which featured on the Fortune Global 500 ranking along with large companies such as Samsung, Hyundai, and SK. As its name suggests, the company owns the main power companies that produce energy across the nation and subsidiaries that can provide a supporting role to such companies. Both KEPCO KPS and KEPCO E&C offer services relevant to power plants, while KEPCO KDN specializes in IT services and communications.How will South Korean public energy companies move forward?
South Korea remains reliant on fossil fuel energy sources, with a low share of renewable energy consumption. With the existential challenges presented by climate change, transitioning towards a more environmentally-friendly energy sector is a question of when and not if. Korea Coal Corporation declared it would close all of its remaining mines by 2025, thus bringing an end to a struggling business and the 120-year history of coal mining in South Korea. The continuous investment into renewable energy is another indicator of the country’s efforts towards a greener future.
