This note present the results of Carbon Tracker’s coal power analysis for South Korea to understand stranded asset risk and relative economic competitiveness. The note has four key findings: South Korea has the highest stranded asset risk in the world due to market structures; South Korea risks losing the low carbon technology race by remaining committed to coal; Planned retrofits to cost $3.6 bn which will accelerate the competitiveness of renewables and could impact KEPCO’s finances; and South Korea should stop investing in new coal and develop a retirement schedule.
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