South Korea: The government has announced US$474bn of funding over the period from 2026 to 2035 to generate 100GW of renewable power. The Korean Green Transformation (K-GX) plan will focus on solar and wind projects, lowering renewable generation costs and adapting its power grid to support large-scale renewable generation. This includes replacing existing power lines with high-capacity ones and fostering DC power transmission and distribution to allow renewable power generation to be directly supplied to end-users.
Cement production is one of five major industries that will also be decarbonised, partly through the use of the new renewable power, but also through the development of green hydrogen infrastructure. Other sectors that the government wants to decarbonise include steel, petrochemicals, semi-conductors and refining. The K-GX plan also aims to boost electric vehicles, with a target that 70% of new vehicles will be electric or hydrogen powered by 2035.