South Korea's 2040 power demand to require 19 nuclear reactors' capacity

South Korea's projected peak electricity demand for 2040 has been revised upwards significantly, now estimated at 165 million kilowatts. This substantial increase, 26.8 million kilowatts higher than previous forecasts, is driven by the development of three major national projects: semiconductor industrial complexes, artificial intelligence (AI) data centers, and other large-scale industrial initiatives.

The revised demand forecast indicates that the country will require an additional power supply equivalent to the capacity of 19 large nuclear reactors. This surge in demand underscores the critical need for the swift construction of nuclear power plants and large-scale transmission networks. Without prompt action, South Korea risks facing power shortages that could hinder the operation of its vital semiconductor factories and AI data centers.

This projection was presented during the fifth discussion session for the 12th Basic Electricity Supply Plan. The Ministry of Trade, Industry and Energy had previously estimated the 2040 peak demand at 138.2 million kilowatts in April. However, subsequent plans for semiconductor clusters in Honam and Yongin, along with regional AI data center investments, necessitated the upward adjustment to between 158.4 million and 165 million kilowatts.

The government faces the challenge of balancing energy needs with national development goals. The reliance on nuclear power and the necessity for massive infrastructure development highlight the complex energy landscape South Korea is navigating as it aims to support its advanced industries.