Malaysia, Friday March 16, 2018 – The Renewable Portfolio Standard (RPS) plays an important role in the wood pellet market in South Korea since the establishment in 2012. It requires that power utilities must deliver 2 % of their generated energy from renewables and progressively to 10 % in the coming decade (2022).
Compared to other renewables such as wind, solar, or hydropower, biomass is expected to deliver the bulk of the clean energy capacity estimated at 50-60 %. Wood pellet demand in South Korea began to rise after the implementation of RPS with more import quantity from other countries.
The South Korean government has set a target to import 5 Mt of wood pellets by 2020 to meet 75% of pellets requirement (Roos and Brackley, 2012). It will continue increase the demand of wood pellet in South Korea.
SOURCE: Extracted from Global Wood Pellet Industry and Trade Study 2017 by IEA Bioenergy