The episode begins by introducing South Korea's energy transition momentum, focusing on the Uljin Nuclear Hydrogen National Industrial Complex, a W4.1 trillion project to produce pink hydrogen using surplus nuclear energy, with construction starting in March 2028 and completion targeted for June 2033. It then discusses challenges in the hydrogen sector, including Plug Power's exit from its joint venture with SK Plug Hyverse due to financial pressures and a 20% budget cut for hydrogen vehicle deployment to W576.2 billion, though South Korea exceeded its 2025 refueling station targets and aims for over 660 by 2030. In the power sector, South Korea plans to phase out coal by 2040 and increase renewables to 100 gigawatts by 2030, with milestones like the Taen-1 coal unit retirement and Sayil Reactor 3's commercial launch in August. However, coal imports rose 4.1% year-on-year in November, mainly from Russia, and coal-fired generation rebounded in December due to flexible rules and nuclear delays, while gas output stayed low. High calorific value coal prices have dropped for six weeks, and COSPO is seeking up to 1.95 million tons of thermal coal through 2030. Energy storage is growing, with a target of 2.22 gigawatts of ESS capacity by 2029, and shifts to LFP battery production are noted. In the industrial sector, GS Caltex is restarting its 550,000 tonne per year paraxylene unit due to strong margins, and gasoline exports surged after SK Energy restarted its RFCC unit in Ulsan, with capacity cuts of up to 3.7 million tonnes per year considered by 2027. Sustainability efforts include a mandate for beverage makers producing over 5,000 tonnes to use at least 10% recycled PET, boosting RPT consumption by 17,300 tonnes annually, and Korea Zinc's partnership with Alta Resource Technologies to recycle rare earth elements from magnets, targeting 100 tonnes per year by 2027. Trade and shipping updates include US anti-dumping and countervailing duty investigations on South Korean hot-rolled coil imports totaling 335,040 tonnes over the past year, the UK considering removing South Korean plate over 2.5 meters wide from its probe, Hyundai Samho Heavy Industries and Samsung Heavy Industries securing new LNG carrier orders, and South Korea purchasing 204,000 tonnes of US corn for April-May delivery.
