The government will unveil the outline of the 12th Basic Plan for Electricity Supply and Demand later this month, containing the nation's "grand energy strategy" from this year through 2040. This electricity plan, the Lee Jae-myung administration's first medium- to long-term energy roadmap, carries significant weight as it will determine the operational framework and direction of future energy policy. The government plans to hold its first discussion forum for establishing the 12th plan, announce a working draft, then finalize the government proposal through public hearings and reports to the relevant standing committee of the National Assembly.
The 12th Basic Electricity Plan goes beyond simply expanding energy supply—it represents a national strategy for the power sector that reconstructs the energy security ecosystem directly linked to national survival. Domestic electricity consumption is projected to increase by more than 40 percent from current levels by around 2035, driven by surging demand from advanced industries such as artificial intelligence and semiconductors. Yet as clearly demonstrated by the Middle East conflict, Korea's energy security remains extremely vulnerable to regional disputes and geopolitical crises. This is precisely why a sophisticated energy mix policy combining renewable energy and nuclear power is necessary.
However, the "Energy Transition Promotion Plan" released by the government earlier this month raises concerns as it appears tilted toward renewable-centered power supply. The policies—including expanding renewable energy generation to more than 20 percent by 2030, converting 40 percent of new vehicle sales to electric and hydrogen vehicles by 2030, phasing out 60 coal power plants by 2040, and transitioning to distributed power grids—are uniformly disconnected from our economic realities and business conditions. Meanwhile, nuclear activation measures such as additional nuclear plant construction or expansion of small modular reactors (SMRs) were barely addressed. While we hope this framework will not be reflected wholesale in the 12th Basic Plan, the concern remains.
The Middle East conflict has made it clearer that a stable energy system determines national competitiveness. The government must face the reality that European countries, once tilted toward renewable energy, are making sharp pivots back to nuclear power one by one. Germany, France, Italy and others are writing painful "nuclear phase-out confessions," acknowledging that "ignoring nuclear was a strategic mistake" and "nuclear power is the core of energy sovereignty and decarbonization." The government must give substantial weight in the 12th Basic Plan to an energy mix strategy that fosters the nuclear industry as a stable baseload power source. The phase-out of fossil fuels including coal should not be pushed recklessly either—an "orderly" exit strategy should be developed while monitoring conditions in major competitors such as the United States, China and Japan.