On February 19, 2025, the so-called Energy Trifecta Bill was passed with bipartisan support at the Plenary Session of the National Assembly’s Committee on Industry, Trade, Resources, SMEs and Startups. 

The Energy Trifecta Bill consists of:

  • the Special Act on the Expansion of the National Electricity Network (the “Electricity Network Expansion Bill”);
  • the Special Act on Promotion of Offshore Wind Power Distribution and Industry Development (the "Special Offshore Wind Power Bill"); and 
  • the Special Act on High-Level Radioactive Waste Management (the “High-Level Waste Management Bill”).

These laws are expected to be a comprehensive policy package that encompasses the response to electricity demand in the era of AI and the energy transition in the era of carbon neutrality. 

On February 27, 2025, the Energy Trifectra Bill has passed the National Assembly, and will be finalized after government promulgation.

 

Key Takeaways

(a) The Electricity Network Expansion Bill

  • Due to the power grid being unable to meet electricity demand, the Government is to lead the establishment of a plan for the implementation of a national core power grid.  
  • Electricity generated will be given priority to users at the place of production.  This is to alleviate the issue of electricity concentration in the Seoul metropolitan area. 
  • The time to obtain the views of local residents will be crunched to 60 days. 

(b) Special Offshore Wind Power Bill

  • The Government is to lead the expeditious development of offshore wind power projects that are being opposed by local residents or the subject of controversy over a lack of economic feasibility. 
  • The plan is to introduce a system to simplify site selection and the permitting and licence procedures by creating a one-stop shop. 
  • Measures will be put in place to increase resident and fisherman acceptance by considering the reasonable compensation for damages caused by the project and to share any benefits with residents and local governments through cooperation with local communities. 
  • The proposed Bill includes grandfathering provisions for existing developers.  The criteria to obtain the benefit such provisions have yet to be determined and will be the subject of further guidance from the Ministry of Trade, Industry and Energy and the Ministry of Oceans and Fisheries. 

(c) High-Level Waste Management Bill 

  • To date high-level radioactive waste such as spent nuclear fuel has been stored on the site of nuclear power plants without being detached in separate management facilities.  The Bill proposes to set out provisions pertaining to the storage and disposal of such waste in high-level radioactive waste management facilities to assist the stable operation of nuclear power plants in Korea. 
  • It is expected that there will be a lot of opposition from local governments and residents when selecting sites for such management facilities.
  • Measures to support the acceptance by residents are being proposed, the details of which have not been released. 


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[Korean version] 에너지3법(안) 국회 위원회 전체 회의 통과