South Korean Energy Market Feasibility OVERVIEW OF POWER MARKET AND WIND FEASIBILITY By Patrick Brandt, Alex Katzman, and Jared Devine, American Council on Renewable Energy Prepared for Senator Mike Gravel
South Korea’s wind energy industry is in an early stage, producing 239 GWh of electricity in 2006, while Germany and Spain each produced 30710 GWh and 23040 GWh that year (IEA).
Project delays, largely due to public objection, as well as the recession, have prevented wind farm construction. (NIMBY Factor)
13 wind farms (ranging from 0.6MW-98MW) have been installed since 2007. The largest is situated at a site 800m above sea level with an average wind speed of 7.0 meters per second.
South Korea is competing with established European (Acciona) and Japanese (Eurus Energy) manufacturers to capture its domestic wind turbine market. (Among them are Taewoong Co., PSM Inc., Hyunjin Materials Co., and Dongkuk S&C.)
According to the Oil & Gas Journal , South Korea had about 2.6 million bbl/d of refining capacity at six facilities as of January 2007.
The largest is SK Corporation’s 817,000-bbl/d Ulsan plant, which is the second-largest refinery in the world. South Korea also hosts the world’s third-largest refinery, GS Caltex’s 650,000-bbl/d Yosu facility.
At present, South Korea’s refining capacity exceeds domestic oil demand, and the country exports refined petroleum products to countries in the region.
While overcapacity has prevented the development of further refineries in South Korea for the last several years, Soil Corporation announced in July 2006 that it is considering building a 480,000-bbl/d plant at Sosan. The proposed S-Oil refinery would target export markets.
Europe and Japan lead the world with the most-stringent passenger vehicle greenhouse gas and fuel economy standards, averaging approximately 41 mpg each in 2006, due to fuel and taxation policies that favor more efficient vehicles
The U.S. GHG and fuel economy standards still lag behind other industrialized nations
Fuel economy standards for South Korea are projected to decline over the next five years due to expected sales of vehicles with larger engine size
South Korea established mandatory fuel economy standards in 2004 to replace a voluntary system
Starting in 2006 for domestic vehicles and 2009 for imports, fuel standards are set at 34.4 CAFÉ-normalized mpg for vehicles with engine displacement under 1,500 cubic centimeters (cc) and 26.6 mpg for those over 1,500 cc.
According to the Director of Center for Environmentally Friendly Vehicles in Korea, Dr. Youngil Jeong, the Korean Ministry of Commerce and the Ministry of Environment are discussing strategies to redesign the fuel economy standards
Beginning in 2012, Korea will introduce new fuel economy and GHG emission standards for all passenger vehicles manufactured locally (Bernama)
What is Hyundai-Kia Motors doing with electric hybrid technology?
In July 2009, Hyundai launched the Elantra LPI HEV, its first hybrid electric vehicle for mass production in Korea.
With a fuel economy rating of 41.9 mpg, CO2 emissions of 99g/km, the vehicle is powered by a 1.6 LPG (liquefied petroleum gas) engine, a 15kW DC motor, and a CVT (continuously variable transmission).
The adoption of liquefied petroleum gas, a widespread fuel source in Korea, lowers the fuel cost by 40% when compared to existing hybrid vehicles and 50% lower compared with the gasoline version of the Elantra.