South Korea to retire 10 coal-fired power plants

The series of shutdown will start next year.

In its dramatic bid to show the world its serious intention of committing to renewables and energy sustainability, the country's second vice-minister for energy, Tae-hee Woo revealed that South Korea will begin to retire 10 coal-fired power plants starting next year. This is line with its announcement of a $27b investment in renewable energy.

Vice-Minister Woo said in Asia Power Week in Seoul that the country had set an ambitious target to slash greenhouse gas emissions by 37% come 2030.

He also stressed the need for Korea's power grid to become "smarter" as the current traditional power business model cannot keep up competitively.