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Green Energy Technologies Korea Market Study Green Energy Technologies Korea Market Study NOVEMBER 2018 © Copyright EU Gateway | Business Avenues The information and views set out in this study are those of the author(s) and do not necessarily reflect the official opinion of the European Union. Neither the European Union institutions and bodies nor any person acting on their behalf may be held responsible for the use which may be made of the information contained therein. The contents of this publication are the sole responsibility of EU Gateway | Business Avenues and can in no way be taken to reflect the views of the European Union. The purpose of this report is to give European companies selected for participation in the EU Gateway | Business Avenues Programme an introductory understanding of the target markets countries and support them in defining their strategy towards those markets. For more information, visit www.eu-gateway.eu. Green Energy Technologies - Korea Market Study - Page 2 of 149 EU Gateway to Korea Central Management Unit Korea Market Study November 2018 Submitted to the European Commission on 14 November 2018 Green Energy Technologies - Korea Market Study - Page 3 of 149 Table of Contents LISTS OF TABLES ..................................................................................................................................................... 7 LISTS OF FIGURES .................................................................................................................................................... 7 1 EXECUTIVE SUMMARY ........................................................................................................................... 10 2 COUNTRY PROFILE ................................................................................................................................. 19 2.1 GEOGRAPHY ...................................................................................................................................... 19 2.2 FINANCIAL AND ECONOMIC KEY DATA ................................................................................................ 19 2.3 KOREAN ENERGY INDUSTRY ............................................................................................................... 22 2.3.1 Energy Consumption in South Korea ........................................................................................ 23 2.3.2 Electricity Production in South Korea ........................................................................................ 26 2.3.3 Renewable Energy in South Korea ............................................................................................ 28 3 MARKET OVERVIEW AND EU ENTRY OPPORTUNITY IN SOUTH KOREA ........................................ 34 3.1 WIND POWER .................................................................................................................................... 34 3.1.1 Market Overview ........................................................................................................................ 34 3.1.2 EU Entry Opportunities .............................................................................................................. 39 3.2 SOLAR ENERGY ................................................................................................................................. 43 3.2.1 Solar Thermal Energy Market Overview .................................................................................... 43 3.2.2 Solar Photovoltaic Energy Market Overview ............................................................................. 47 3.2.3 EU Entry Opportunities .............................................................................................................. 52 3.3 AEROTHERMAL ENERGY .................................................................................................................... 58 3.3.1 Market Overview ........................................................................................................................ 58 3.3.2 EU Entry Opportunities .............................................................................................................. 60 3.4 GEOTHERMAL ENERGY ...................................................................................................................... 62 3.4.1 Market Overview ........................................................................................................................ 62 3.4.2 EU Entry Opportunities .............................................................................................................. 66 3.5 OCEAN ENERGY ................................................................................................................................ 69 3.5.1 Market Overview ........................................................................................................................ 69 3.5.2 EU Entry Opportunities .............................................................................................................. 72 3.6 HYDRO POWER .................................................................................................................................. 74 3.6.1 Market Overview ........................................................................................................................ 74 3.6.2 EU Entry Opportunities .............................................................................................................. 76 3.7 BIOENERGY ....................................................................................................................................... 77 3.7.1 Market Overview - focus biomass .............................................................................................. 78 3.7.2 Market Overview - focus biofuel ................................................................................................ 81 Green Energy Technologies - Korea Market Study - Page 4 of 149 3.7.3 Market Overview - focus biogas and landfill gas ....................................................................... 85 3.7.4 EU Entry Opportunities .............................................................................................................. 87 3.8 WASTE TO ENERGY - SEWAGE TREATMENT PLANT ............................................................................. 91 3.8.1 Market Overview ........................................................................................................................ 91 3.8.2 EU Entry Opportunities .............................................................................................................. 94 3.9 OFF-GRID SOLUTIONS ....................................................................................................................... 95 3.9.1 Market Overview ........................................................................................................................ 95 3.9.2 EU Entry Opportunities .............................................................................................................. 97 3.10 MANAGEMENT & CONTROL SYSTEMS ............................................................................................... 100 3.10.1 Market Overview ...................................................................................................................... 100 3.10.2 EU Entry Opportunities ............................................................................................................ 102 3.11 ENERGY EFFICIENCY & CARBON SERVICES ...................................................................................... 104 3.11.1 Market Overview ...................................................................................................................... 104 3.11.2 EU Entry Opportunities ............................................................................................................ 107 3.12 ENERGY CONSERVATION .................................................................................................................. 109 3.12.1 Market Overview ...................................................................................................................... 109 3.12.2 EU Entry Opportunities ............................................................................................................ 112 3.13 ENERGY CONSERVATION TECHNOLOGIES FOCUSED ON REDUCING CO2 EMISSIONS ........................... 114 3.13.1 EU Entry Opportunities ............................................................................................................ 117 3.14 CARBON CAPTURE & STORAGE (CCS)............................................................................................. 119 3.14.1 Market Overview ...................................................................................................................... 119 3.14.2 EU Entry Opportunities ............................................................................................................ 121 3.15 COGENERATION ............................................................................................................................... 123 3.15.1 Market Overview ...................................................................................................................... 123 3.15.2 EU Entry Opportunities ............................................................................................................ 126 3.16 MOBILITY SOLUTIONS ......................................................................................................................
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