South Koreas Renewable Energy Policy: Coming Together or Drifting Apart?

Abstract

South Koreas incumbent Moon Jae-in administration announced its ambitious policy goals of increasing renewable energy and cultivating the related domestic industry. The 20% target for renewable energys share by 2030 marks a clear departure from the conservative position of previous administrations. The proposed policy tools—including large-scale project-based aid, favorable loan terms, the RPS system with weighted REC, and the Korean-style FIT model—involve some elements of prohibited and actionable subsides under the ASCM. This study concludes that the direction of South Koreas energy policy is right, but it needs to be depoliticized and its speed readjusted.