South Korea s energy storage field in 2025

Why did South Korea launch the 2025 1st ESS central contract market auction?

The South Korean government, under the auspices of its carbon neutrality and energy transition goals, has launched the 2025 1st ESS Central Contract Market auction... South Korea launched the 2025 1st ESS Central Contract Market auction, offering 540 MW of capacity for energy storage projects across the mainland and Jeju.

Will Korea build more energy storage by 2038?

Korea’s 11th BPLE sets a target to build an additional 23 GW of energy storage by 2038, including 1.25 GW of pumped-hydro storage. The government announced its Development Strategy for the Energy Storage Industry in October 2023.

Are South Korean companies investing in energy storage systems?

Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future. However, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

Will South Korea install 540 megawatts of battery energy storage systems?

The Ministry of Trade, Industry and Energy unveiled plans for a nationwide tender to install 540 megawatts of battery energy storage systems (BESS), marking the country's first major government-led deployment of its kind. The project is part of a broader effort to modernize South Korea’s power grid and support the transition to renewable energy.