Authors: Sunwoo (Vivian) Lee

For decades, South Korea defined energy security as securing the next cargo of oil, coal, or liquefied natural gas (LNG).

This paper argues that model is breaking down. Around 93% of the country’s energy is imported, industrial electricity prices have risen 70–80% since 2021, and the state utility KEPCO carries more than US$147 billion in debt, while semiconductor mega-clusters and AI data centres push demand to unprecedented levels.

The solution, the author argues, is to shift from “chasing cargo” to “securing the system”: building a domestic power system capable of generating, transmitting, and balancing low-carbon electricity at industrial scale. A comparison with Japan shows that geography, and not institutions, is the decisive constraint.

This publication is part of the Clean Energy Perspectives on Security and Resilience project supporting the co-creation of technical knowledge on clean energy systems and energy security through building a community of practice bringing together leading experts from across the Global North and Global South. The project is conducted by Climate Strategies in partnership with the Stanley Center for Peace and Security.