Electricity sales volume of KEPCO 2014-2023

In 2023, the electricity sales volume of Korea Electric Power Corporation (KEPCO) amounted to approximately 546 billion kilowatt-hours. Overall, the sales volume of electricity by KEPCO has generally increased over the years. In addition, KEPCO was ranked as the seventh-largest company in South Korea according to the Fortune Global 500.

South Korea’s energy market

Prices of utilities in general have risen due to geopolitical factors in recent years. As of 2023, the gross domestic product from the electricity, gas, and water supply sector was over 46 trillion South Korean won. Additionally, the revenue of the electricity transmission and distribution market in South Korea is forecast to increase over the next decade, exceeding five billion U.S. dollars by 2030.

Renewable energy

With an increase in both prices and demand for electricity, renewable sources are becoming more attractive. More than 60 percent of respondents in Seoul were willing to install renewable energy infrastructure for household use. The South Korean government has planned to focus mainly on solar and wind energy production as its main renewable energy sources moving forward.