Energy storage platform responsible for seoul factory operation

Is South Korea a powerhouse in the energy storage system industry?

South Korea has set an ambitious goal to rise alongside the United States and China as one of the top three powerhouses in the global energy storage system (ESS) industry by 2036. The nation plans to capture 35% of the rapidly growing global ESS market, aiming to revitalize its currently stagnant domestic ESS industry.

What is an energy storage system (ESS)?

An ESS, or Energy Storage System, is a facility that stores excess electricity using large quantities of secondary batteries to use it later. As countries around the world push for carbon neutrality around 2050, there’s an increasing demand for renewable sources like solar and wind energy, as well as carbon-free energy (CFE) like nuclear power.

Does South Korea need ESS?

South Korea recognizes the growing need for ESS. According to the 10th Basic Plan for Power Supply and Demand confirmed earlier this year, the percentage of rigid power sources, which are difficult to adjust in terms of output, will increase from 34% in 2021 to 54.0% in 2030 and 65.2% by 2036.