South Korea Plans Major ESS Expansion for New Semiconductor Parks, Market Size Seen Exceeding 40 Trillion Won

According to ZDNet Korea Semiconductor, South Korea's Ministry of Climate, Energy and Environment began formulating early-stage power supply plans for a new semiconductor industrial park in the Honam region on July 13, with plans to add new energy storage systems (ESS) and pumped hydro storage projects through its 12th power supply plan. The ministry's 11th power supply plan previously estimated that South Korea will require a total of 21.75 gigawatts (GW) of long-duration energy storage capacity by 2038, accounting for semiconductor industrial park construction including the Yongin facility. The government's target for first-phase power supply to the Southwest region's semiconductor wafer fab is 6.3 GW. South Korea's industry expects the domestic ESS market to expand to over 40 trillion Korean won in the coming years.
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