Samsung to switch to renewable energy sources for electricity by 2050, South Korea points out unfavorable supply conditions

According to Samsung Electronics' Sustainable Management Report 2024, the company's electricity consumption at its domestic and overseas business locations in 2023 was 36,399 gigawatt hours. In 2021, it was 32,322 gigawatt hours.
The amount of electricity used is increasing rapidly from gigawatt hours. The semiconductor (DS) sector alone used 32,384 gigawatt hours, meaning that the majority of the total was used for semiconductors.
The report pointed out that the semiconductor industry, by its very nature, consumes a lot of electricity, but that South Korea's renewable energy supply conditions are less favorable than those of other major countries.
To this end, the company plans to switch the electricity it uses to renewable energy by 2050. China and the United States have already achieved their renewable energy conversion goals.
The government plans to expand power purchase agreements (PPAs) in areas where the market is thriving. Prior to this, the Ministry of Trade, Industry and Energy announced in November 2023 that it would raise industrial electricity rates to 1 per kilowatt-hour.
The government is considering raising electricity rates as early as the end of 2024. The trading price of Renewable Energy Certificates (RECs) will also be raised from 2021 to 2028.
The average annual increase is expected to be 44% by 2023. An industry insider said, "There is a power shortage in the metropolitan area, but I hear that in some areas, they cannot use all the electricity they produce.
is necessary," he said.