Power demand surges in South Korea’s semiconductor industrial parks, domestic ESS market size expected to exceed 40 trillion won

Odaily reported that the Korean Ministry of Climate, Energy and Environment has begun formulating an early-stage electricity supply plan for the new semiconductor industrial park in the Honam region, and plans to determine new additions to the energy storage system (ESS) and pumped-storage projects through the 12th Basic Plan for Electricity Supply and Demand. The 11th Basic Plan for Electricity Supply and Demand previously estimated that, taking into account the construction of the Yongin semiconductor industrial park and other factors, South Korea would require a total of 21.75 GW of long-term energy storage systems by 2038. The Korean government previously revealed that the first phase electricity supply target for the southwestern region semiconductor wafer factory is 6.3 GW. Industry insiders in Korea expect the domestic ESS market will expand to over 40 trillion KRW in the future. (ZDNet Korea Semiconductor).