South Korea raises 2040 peak power demand forecast to 165 GW

South Korea's projected peak power demand for 2040 has been revised upward to between 158.4 GW and 165.0 GW, according to a provisional draft of the 12th Basic Plan for Electricity Supply and Demand. This increase of approximately 26.6–26.8 GW from previous estimates is driven primarily by the expansion of AI data centers and semiconductor mega-clusters.

Specific projections indicate that advanced industries, including semiconductors, will require an additional 24.3–24.6 GW, while AI data centers are expected to add 11.9 GW to the demand. This surge in energy requirements is prompting renewed discussions regarding power generation facilities, transmission grid reinforcement, and the potential for increased nuclear power deployment.

As a result of these revised forecasts, companies within the nuclear energy value chain, such as Doosan Enerbility, are seeing increased attention from market analysts. The final composition of power sources and specific construction schedules will be determined through the ongoing government planning process.