Korea to announce policy to phase out biomass energy use

On December 18, 2024, the Ministry of Trade, Industry and Energy (MOTIE) of South Korea announced that it has formulated the Improvement Plan for Biomass Fuel and Power Generation Market. This Plan aims to make better use of underutilized local forest resources and to solve environmental problems related to biomass. In 2012, South Korea introduced the Renewables Portfolio Standard, which requires power producers with generating capacity of 500 MW or more to supply a certain percentage of renewable energy each year.