COP30: South Korea commits to phase out majority of coal plants by 2040

South Korea committed to phasing out the majority of its coal-fired power plants by 2040 as it joined the Powering Past Coal Alliance at the UN Climate Change Conference on Nov. 17, marking a significant shift for the world's seventh-largest coal power operator.

"Currently, Korea's energy mix consists of roughly 30% nuclear, 30% coal, 30% gas, and about 10% renewable energy," the country's minister of climate, energy and environment, said at an event during COP30. "Under the Lee Jae-myung administration, we aim to rapidly increase the share of renewables to over 35% by 2035. Based on this shift, we plan to phase out coal quickly while building an energy system centered on nuclear power and renewables."

Kim also said that South Korea aims to retire 40 aging coal-fired power plants by 2040, according to a statement released by the ministry.

At COP30, Kim also announced the country's plan to reduce its greenhouse gas emissions by 53%-61% by 2035 from 2018 levels, with hydrogen and other renewable energy sources set to play a greater role in the energy mix, which is higher than the country's previous 2030 goal of a 40% reduction.

"Out of 61 existing coal power plants, 40 coal power plants are confirmed to phase out by 2040. The phaseout date for the remaining 21 coal power plants will be determined based on economic and environmental feasibility after public discussion, and a specific plan is scheduled to be established next year," the PPCA also said in a statement. "The share of coal generation has decreased from 42.5% in 2015 to 30.5% in 2024 but still represents a significant source of emissions, and several new coal units have only begun operation in the last few years."

The PPCA is a global coalition of governments and local actors that calls on all its members to commit to the phaseout of coal.

Phaseout timeline

"The coal phaseout is not only necessary for the climate but also beneficial for energy security, corporate competitiveness and job creation not only for South Korea but all other countries," Kim added in the statement.

South Korea, the world's fourth-largest thermal coal importer, aims to close its remaining coal-fired power plants by next year, finalizing the details to meet its 2040 phaseout plan, according to the statement.

This makes South Korea the second country in Asia, after Singapore, to join the coalition, although it has a much larger coal fleet than the latter.

Under the road map, 12 aging coal-fired power plants whose lifespans expire in 2037-2038 would be converted into hydrogen-based or ammonia-based generators. The long-term plan aims to reduce the share of LNG in the country's power mix to 25.1% by 2030 and further decrease it to 10.6% by 2038, compared with 28.2% in 2024.

Conversely, the share of nuclear will climb to 35.2% in 2038, from 31.8% in 2030 and 31.4% in 2024, while the portion of renewable sources, such as solar and wind power, will jump to 39.2% in 2038, compared with 24.6% in 2030 and 9.6% in 2024.

The portion of carbon-free energy sources in the country's portfolio, which stood at around 40% in 2023, will rise to 53% in 2030 and 70% in 2038, according to the road map released by the ministry.

New members

Bahrain also joined the PPCA on Nov. 17, though the Gulf state has never operated coal power plants and has pledged not to build any in the future.

"The government of Bahrain has also pledged to work with other members of the PPCA to advance the coal-to-clean transition globally," the PPCA said in a joint statement with Bahrain on Nov. 17.

The coalition does not include China or India, the world's two largest coal consumers. The US, which is the world's third-largest consumer of coal, joined the PPCA in 2023.

Coal power is the single biggest contributor to greenhouse gas emissions, accounting for 41% of global emissions in 2024, according to recent data released by the Global Carbon Budget project.