{"id":"south-korea","rid":"KR","name":"South Korea","flag":"🇰🇷","group":"asia","type":"market","parent":null,"regions":null,"tier_range":null,"tier":3,"tier_name":"Workable","score":53,"pillar_score":57,"pillar_tier":3,"pillar_tier_name":"Workable","reliability":{"assessed":true,"level":"watch","dock":4,"provisional":false,"confidence":"Med","delivery_transmission":{"level":"none"},"delivery_distribution":{"level":"none"},"forward_capacity":{"level":"watch","measure":"modelled","note":"The national grid shows no significant reliability flags overall, but the Seoul metropolitan balance is tight against surging AI data-center demand, and about half of Greater Seoul projects in 2024-2025 were delayed or scrapped on grid and local opposition. Regional build-out is meant to relieve it.","sources":[{"label":"Korea data-center power and the grid (Seoulz)","url":"https://www.seoulz.com/korea-data-center-power/"}]},"read":"Minor flags found","level_means":"reviewed; flags found"},"reliability_dock":4,"regulatory_momentum":{"level":"mixed","direction":"improving","why":"Greater Seoul faces severe congestion and local opposition, but the national 18.4 GW plan deliberately steers builds to regions like Chungcheong and Ulsan.","what_would_change_it":"The regional build-out and grid upgrades actually clearing Seoul-area siting at scale.","scope":"The regulatory and permitting environment for connecting a new large load. An opinion on a dated record, not a measurement.","vocabulary_version":"regulatory-momentum-1.0","beyond_the_grid":{"text":"Community licence is a hard constraint near the capital: reporting compiled by Seoulz found 17 of 33 permitted Greater Seoul data-centre projects in 2024 to 2025 were delayed or scrapped after resident opposition over electromagnetic fields, noise, heat and property values.","sources":[{"label":"Seoulz","url":"https://www.seoulz.com/korea-data-center-power/"}]},"for_new_supply":"The national 18.4 GW plan steers new supply toward Chungcheong and Ulsan, away from congested Seoul."},"scheduled_changes":[{"date":"By 2029","event":"Phase 1 (about 8.4 GW) of the national 18.4 GW AI data-center plan targeted","why":"The bulk of near-term capacity, deliberately spread to regions to relieve Seoul congestion.","source":{"label":"Korea 18.4 GW AI data-center plan (Light Reading)","url":"https://www.lightreading.com/data-centers/south-korea-plans-massive-18-4gw-ai-data-center-buildout-by-2035"}}],"queue":null,"friction":{"level":"High","wait":"3-5 years","measure":"proxy","has_detail":true},"connection_pathway":null,"service_evidence":{"contractual_service_held":false,"local_capacity_state":"not_assessed","local_capacity_depth":0,"cost_basis":"administered","territory_count":0},"reliability_metrics":null,"forward_cost":null,"tariff":null,"realized_cost":{"low_usd_per_mwh":120,"mid_usd_per_mwh":132,"high_usd_per_mwh":150,"aggregation":"band","estimate_usd_per_mwh":null,"estimate_kind_note":null,"total_derivation":"compiled_band_allocated_across_categories","total_derivation_note":"The band is the compiled result and the component lines apportion its midpoint, which is why they sum exactly.","tariff_basis":null,"scenarios":null,"confidence":"administered","public_fragments":1,"contributed_points":0,"basis":"USD per MWh recurring, delivered to the standard 100 MW high-load-factor case, excluding customer-funded connection capital and excluding refundable taxes"},"cost_availability":{"label":"Standardized cost observable","means":"A comparable recurring-cost band can be built from observable, applicable inputs for the standard archetype.","user_action":"Use the band, with its stated confidence and boundary.","class":"standardized_observable","band_published":true},"cost_evidence_state":{"state":"applicable_evidence_incomplete","answerable":"conditionally","label":"Applicable, evidence incomplete","means":"The archetype can buy the service and the band is sound, but some published figures do not yet carry their own source, date, method and confidence.","remedy":"Finish the per-line provenance. No new access or negotiation is required.","also_holds":[],"vocabulary_version":"evidence-state-1.0"},"jurisdiction_evidence":null,"cost_structure":null,"cost_withdrawn":null,"cost_correction":null,"carbon_correction":null,"carbon_official_reference":null,"partial_cost_verified":null,"cost_pillar_calculation":null,"evidence":{"source_reliability":"Moderate","coverage":"Full","coverage_dimensions":3,"last_reviewed":"June 2026","measured_layers":1,"data_layers":3,"layers":[{"layer":"PGIQ Rating opinion","method":"opinion","vintage":"June 2026","freshness":"Current","source_url":"https://powergridiq.com/methodology"},{"layer":"Reliability review","method":"assessed","vintage":"2025","freshness":"Fresh","source_url":"https://www.seoulz.com/korea-data-center-power/"},{"layer":"Connection friction","method":"proxy","vintage":"2025/26","freshness":"Fresh","source_url":"https://www.seoulz.com/korea-data-center-power/"},{"layer":"Realized cost","method":"measured","vintage":"2026","freshness":"Fresh","source_url":"https://www.spglobal.com/energy/en/news-research/latest-news/lng/102324-south-korea-raises-electricity-rates-for-industrial-use-while-freezing-bills-for-households"}]},"outlook":"Positive","confidence":"Med-High","under_review":false,"thesis":"A grid with a strong measured delivery record and a huge government-backed AI data-centre program (18.4 GW planned by 2035). The drawbacks are steeply rising power cost, a moderately high-carbon grid, and severe congestion around Seoul.","pillars":{"access":48,"availability":60,"cost":45,"momentum":90,"carbon":45},"pillar_rationale":{"access":"Constrained access around Seoul: about half of permitted Greater Seoul data-center projects in 2024-2025 were delayed or scrapped on grid and local opposition, with policy now pushing builds to Chungcheong, Ulsan and other regions.","availability":"Strong grid with no significant reliability flags found, but the Seoul metropolitan balance is tight against surging demand.","cost":"High and rising cost: KEPCO's regulated industrial tariff climbed about 70% from 2022 to 2024.","momentum":"Very high momentum: a national 18.4 GW AI data-center plan, roughly KRW 550 trillion in phase one.","carbon":"Moderate-high carbon (~430 g), coal, LNG and nuclear."},"offtake_opportunity_index":72,"demand_hunger":60,"build_feasibility":42,"supplier_signals":null,"outlook_drivers":{"upgrade":["Regional build-out (Chungcheong, Ulsan, Donghae) opens access away from Seoul.","Nuclear and renewables lower carbon as the fleet expands."],"downgrade":["Industrial tariffs keep climbing as KEPCO recovers losses.","Seoul-area congestion and local opposition stall projects."]},"risks":["Power cost trajectory.","Greater Seoul grid congestion and siting opposition."],"peers":{"like":"Japan and Taiwan (reliable, pricey Asian hubs)","ahead":"on reliability and momentum","behind":"on cost and carbon"},"sources":[{"label":"KEPCO industrial tariff increases (S&P Global)","url":"https://www.spglobal.com/energy/en/news-research/latest-news/lng/102324-south-korea-raises-electricity-rates-for-industrial-use-while-freezing-bills-for-households"},{"label":"Korea 18.4 GW AI data-center plan (Light Reading)","url":"https://www.lightreading.com/data-centers/south-korea-plans-massive-18-4gw-ai-data-center-buildout-by-2035"},{"label":"KPX cost-based pool and KEPCO structure (Chambers 2025)","url":"https://practiceguides.chambers.com/practice-guides/power-generation-transmission-distribution-2025/south-korea/trends-and-developments"}],"latest_action":{"date":"June 2026","type":"New rating","note":"New rating: Tier 3 Workable assigned.","trigger":null},"grid":null,"evidence_depth":{"use_case":"project_case","use_case_label":"Standardized Project Case","overall":"M1 Broad","overall_permits":"Directional only: supports discovery, comparison and monitoring, not a project decision.","insufficient_evidence":false,"unassessed_required_fields":[],"project_ready":false,"blocking_fields":["cost","connection","reliability"],"fields":{"cost":"M2 Compiled","connection":"M1 Broad","reliability":"M2 Compiled","carbon":"M2 Compiled","regulatory":"M2 Compiled","local_capacity":"not_assessed"},"by_use_case":{"discovery":{"label":"Discovery and monitoring","matrix_version":"1.0","tier":"M1 Broad","ready":false,"blocking_fields":["cost","connection"],"insufficient_evidence":false,"why":""},"market_comparison":{"label":"Market comparison","matrix_version":"1.0","tier":"M1 Broad","ready":false,"blocking_fields":["cost","connection","reliability"],"insufficient_evidence":false,"why":""},"project_case":{"label":"Standardized Project Case","matrix_version":"1.0","tier":"M1 Broad","ready":false,"blocking_fields":["cost","connection","reliability"],"insufficient_evidence":false,"why":""},"project_case_carbon":{"label":"Project Case with a carbon requirement","matrix_version":"1.0","tier":"M1 Broad","ready":false,"blocking_fields":["cost","connection","reliability","carbon"],"insufficient_evidence":false,"why":""},"site_diligence":{"label":"Conditional site diligence","matrix_version":"1.0","tier":"not_assessed","ready":false,"blocking_fields":["cost","connection","reliability","local_capacity"],"insufficient_evidence":true,"why":"not assessed here: local capacity"}},"reliability_layers":{"bulk_historical":{"state":"unknown","method":null},"forward_adequacy":{"state":"held","method":"modelled"},"local_delivery":{"state":"unknown","method":null},"contractual_service":{"state":"unknown","method":null},"designed_site_resilience":{"state":"unknown","method":null}},"definition_version":"carbon_scope@1.0;connection_process@1.0;cost_archetype@1.0;evidence_tiers@1.0;reliability_layers@1.0","scale":"M1 broad / M2 compiled / M3 project-ready / M4 local; cumulative, so each tier includes the ones below it. Assigned per field from held evidence with provenance. Not a rating strength, confidence score or feasibility conclusion."},"next_review":"2027-03-15","report_url":"https://powergridiq.com/rating/south-korea","as_of":"June 2026","evidence_layers":{"version":"evidence-layers-1.0","band":{"state":"estimated","label":"Estimated","means":"The band is an analyst estimate against a stated reasoning, not a sourced figure.","reproducible":false},"component":null,"cost_pillar":{"state":"analyst_assessment","label":"Analyst assessment","means":"The score is a judgement recorded with a written cost-specific rationale. It is not calculated from a formula and does not claim to be.","reproducible":false},"layers_are_independent":"Band, component and cost-pillar evidence are separate judgments. A market may have a sound, applicable band and an illustrative component breakdown at the same time. Do not read a component-evidence limitation as a statement about the band."}}