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The South Korean Government's Pro-Nuclear Power Policies Helped Increase Electricity Generation From Nuclear-Fired Plants By 25.0 Percent During 2001-2006

Posted on: Thursday, 15 November 2007, 00:00 CST

Research and Markets (http://www.researchandmarkets.com/reports/c74294) has announced the addition of the new Frost & Sullivan Report "Country Industry Forecast - Political and Policy Analysis for the South Korean Energy Industry" to their offering.

Following the robust economic growth in China and India, the energy demand in Asia has escalated. Globally, long-term demand for energy is expected to be the strongest in Asia. The chief challenges for countries in this region are securing energy supply, meeting capital requirements, and complying with environmental regulations. These issues have compelled the region to focus on alternate fuels. Its emphasis on energy security has catalyzed the development of a slew of alternate fuels. Renewable energy, hydroelectricity, and biofuels are emerging as economically viable alternatives. The South Korean Government's international relations are expected to foster energy cooperation. It is focusing on increasing clean energy production and diversifying the energy supply options to reduce its dependence on oil imports. This is a wise move, since its energy industry is extremely susceptible to fluctuations in international oil prices and demand-supply conditions. The Government is also aiming to create competitive market conditions for participants in the energy industry through privatization and deregulation process, especially in the electricity generation sector.

Economic growth, increasing per capita expenditures, burgeoning population, urbanization, growth in the industrial sector, and industrial investments are expected to take the South Korean energy industry further ahead. Its monetary and fiscal policies are expected to have no impact on the energy industry during 2008-2013. Meanwhile, the country's tax revenues are expected to increase and fiscal spending is likely to be channeled toward strengthening social infrastructure and the social safety net. The political establishment plays a vital role in prioritizing this industry in the development agenda of a country. General economic policies greatly impact this demand-driven industry and industry-specific policies, wherever effectively enforced, provide impetus.

The South Korean Government's pro-nuclear power policies had helped increase electricity generation from nuclear-fired plants by 25.0 percent during 2001-2006. In 2006, the country's nuclear generation capacity was nearly 17.5 gigawatt electrical (GWe), supplying approximately 140 terawatt hours (TWh) of electricity. The ongoing nuclear energy expansion programs could provide substantial opportunities for foreign and domestic suppliers of nuclear power generating equipment and engineering services. Meanwhile, the country is experimenting with clean coal technology for commercial applications to back up its 2002 ratification of the Kyoto Protocol. The Government's proposed investment of more than $28 billion from 2007 to 2015 in various energy-related activities is likely to brighten the prospects of companies involved in equipment supply, construction, and energy management services. The Government also has ambitious plans for phased restructuring of the electricity and natural gas sectors.

This Frost & Sullivan Country Industry Forecast service for the South Korean energy industry uses a macroeconomic perspective to provide a focused analysis of the industry. This service covers an array of issues pertinent to the energy industry, ranging from political stances, trade policies, and industry regulations, along with their overall impact. Besides enabling decision makers to assess the impact of non-market forces, this analysis also helps in identifying new opportunities in the industry. In addition, it provides a strong base for preparing business contingency plans.

For more information, visit http://www.researchandmarkets.com/reports/c74294

Source: Business Wire

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