The Ministry of Knowledge Economy has come up with a long-term energy plan, ``Energy Security Initiative 2030,'' aimed at increasing the nation's self-reliance and diversifying its sources of energy. South Korea is the world's 10th biggest energy-consuming country with 97 percent of its total energy supply coming from imports. The country has low energy efficiency, inviting criticism for wasting fuel in every sector.
It is imperative for the nation to start using less energy and emitting less greenhouse gases. For this, the ministry's policy is focused on building 12 nuclear power plants by 2030 in order to ensure a stable supply of electricity with better efficiency and less damage to the environment. The country now operates 20 nuclear power plants, generating 35.5 percent of the total electricity supply. The ministry intends to raise this to 56-56 percent in 22 years.
The ministry plans to hold a meeting of the Korea Energy Committee next month to get approval for the new energy policy. However, the government may face strong protests from the public as well as environmental groups due to concerns about nuclear safety. It will also be difficult for authorities to find eligible sites for nuclear plants because of people's ``not in my backyard'' (NIMBY) mentality.
Against this backdrop, many industrial experts and environmental activists recommend that the government shift its focus to developing renewable energy sources. In fact, the ministry's policy contains a plan to expand renewable energy supply from 2.4 percent in 2007 to 9 percent in 2030. The details of the plan call for utilizing solar and wind power as well as developing bio-fuels and hydrogen fuel cells.
For this, the ministry said 194.4 billion won ($192.4 million) is to be invested in research and development of up-to-date technologies for renewable energy sources this year. The sum represents a 60-percent rise from last year. The government is required to make more R&D money and other support measures available as the country is in the incipient stage for mass production of clean and environment-friendly energy sources.
But, the government gives the impression that the renewable energy development policy is a decoy to silence voices against nuclear plants. The policy is devoid of concrete action plans. It appears that policymakers have yet to realize the importance of alternative energy sources. There are growing worries that officials might make the same mistake of previous governments that did little to ensure energy security following the two global oil crises in the 1970s.
A third oil shock is looming. The Lee Myung-bak administration should take more fundamental and comprehensive steps to drastically cut the nation's heavy reliance on fossil fuel imports. It cannot succeed in its new energy initiative without restructuring the nation's energy-devouring industrial and economic structure. It is also necessary to bring a revolutionary change to daily living so that people consume less fuel.