South Korea has maintained its energy generation mainly from fossil fuels and nuclear power, currently accounting for approximately 70% of its energy mix.¹  With an intention to reduce its energy reliance on traditional sources, the South Korean government (hereinafter referred to as the “Government”) has focused on developing two fundamental aspects related to its the energy mix, namely: (i) a reduction in the use of both fossil fuels and nuclear energy for power generation; and (ii) the conversion of those current primary energy sources into new and renewable energy sources.  The Government has established several energy policies collectively centering on a steady supply of energy, environmental-friendly energy systems, and energy security.