Annual Report 2016
Country Reports


Keyyong Hong Korea Research Institute of Ships and Ocean Engineering

Development of ocean energy in Korea has been predominantly focused on establishing promotions for commercialization and technology demonstrations. In 2016, this industrial trend began to move forward by launching new projects, which involve construction and demonstration of open sea test sites and ocean energy systems.

The market incentive for renewables in Korea is based on the Renewable Energy Certificate (REC) policy. A REC value for tidal current is currently 2.0 and they consider its increase to accelerate the market development. In addition, the inclusion of wave and ocean thermal energies in REC policy is presently being discussed.