Are South Korean companies investing in energy storage systems?

Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future. However, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

Does Korea have a good public charging infrastructure?

Korea has seen a rapid increase in sales of electric LDTs thanks to an innovative pol-icy that incentivizes the adoption of EVs for commercial use. In terms of energy, 80,000 LDTs require as much as 480,000 passenger cars. Therefore, a good public charging infrastructure should not only cater to passenger vehicles but also to trucks.

Is Korea ready for a more grid-friendly charging infrastructure?

Conse-quently, now is the time for Korea to prepare for and fully embrace a more grid-friendly charging infrastructure for the future.

How did Korea meet eV and charg-ing infrastructure targets in 2022?

To meet EV and charg-ing infrastructure targets, Korea increased subsidy funding for slow chargers from W24 billion in 2021 to W74 bil-lion in 2022. Funding for fast chargers also increased from W4.5 billion to W37 billion. Regulatory measures were implemented in 2022 to ensure EV readiness in apartment blocks, public buildings, and parking lots.

How many EV charging points are there in Korea?

The number of public charging points (CPs) in Korea reached 193,000 in 2022, of which 10.6% were dc fast char-gers. Nearly 83,000 chargers were installed in 2022. Korea had the best EV-per-CP ratio (2 EVs/CP) among 20 countries included in the IEA “Global EV Outlook 2023” report. The world average was 10 EVs/CP.

Is Korea a good country for EV charging?

Korea, which establishes a comprehensive road map for overall infrastructure, EVs, rates, and regulations and promotes policies, is a notable case. It is also exemplary that the operation status of all public chargers is open to the public through the government so that EV users can easily access it via a smartphone apps.