Meta Data
Title in national language: 
전기사업법
Draft: 
No
Revision of previous policy?: 
No
Draft Year: 
2000
Effective Start Year: 
2017
Scope: 
National
Document Type: 
Act
Economic Sector: 
Power
Energy Types: 
Power, Renewable, Solar, Other
Issued by: 
Ministry of Trade, Industry & Energy
Overall Summary: 
The purpose of this Act is to promote the sound development of the electric utility and protect the interest of the consumers of electricity by establishing the basic system, and by promoting the competitiveness, of the electric utility and thereby to contribute to the progress of the national economy. This Act amends previous Acts and has been amended by subsequent Acts.
Pricing
Energy taxation: 
In order to implement the projects or programs under any subparagraphs of Article 49, the Minister of Commerce, Industry and Energy may, under the conditions as prescribed by the Presidential Decree, levy and collect charges on the consumer of electricity within the limits of 65/1000 of the electric utility rates[...].---The Minister of Commerce, Industry and Energy may not levy or collect charges on the person using electricity falling under any one of the following subparagraphs [...]1. Electricity generated by the independent power facilities (including the independent power facilities under the Act on the Promotion of the Development, Use and Diffusion of New and Renewable Sources of Energy); 2. Electricity for the pumping-up power business, used for the purpose of producing the electricity to sell to the power markets; and 3. Electricity supplied within the specific supply district by an operator of the district electric business [...].
Energy pricing: 
The operator of the electric transmission business or the operator of the electric distribution business shall decide his charges for the use of electric installations [...].---The transaction price of electricity fixed at the electric utility market (hereinafter referred to as "transaction price of electricity") shall be determined by the interaction of the supply and demand of electricity that is measured by time slot.
Investment
Financial incentives for energy infrastructure: 
The Government shall establish the Electrical Industry Foundation Fund (hereinafter referred to as the "Fund") to secure financial resources that may be necessary for the sustained development, and the creation of the foundation, of the electric utility industry.
Tax and duty exemptions for energy equipment: 
The Minister of Commerce, Industry and Energy may not levy or collect charges on the person using electricity falling under any one of the following subparagraphs [...]1. Electricity generated by the independent power facilities (including the independent power facilities under the Act on the Promotion of the Development, Use and Diffusion of New and Renewable Sources of Energy); 2. Electricity for the pumping-up power business, used for the purpose of producing the electricity to sell to the power markets; and 3. Electricity supplied within the specific supply district by an operator of the district electric business [...].
Independent power producers: 
The Minister of Commerce, Industry and Energy may not levy or collect charges on the person using electricity falling under any one of the following subparagraphs [...]1. Electricity generated by the independent power facilities (including the independent power facilities under the Act on the Promotion of the Development, Use and Diffusion of New and Renewable Sources of Energy).
Governance
Energy management principles: 
The Minister of Commerce, Industry and Energy shall formulate and publicly announce the basic plan on the supply and demand of electricity (hereinafter referred to as "basic plan") in order to stabilize the supply and demand of electricity.
Energy institutional structures: 
The Korea Power Exchange is hereby established for the purpose of operating the electric utility market and the electric control system.---The Electrical Affairs Commission shall be established in the Ministry of Commerce, Industry and Energy in order to deliberate matters concerning a fair competitive environment for the electric utility and the protection of the interest of the consumers of electricity as well as to adjudicate on disputes arising in relation to the electric utility.---The Korea Electrical Safety Corporation that carries out such affairs as survey, research, technical improvement, and publicity on electric safety and performs the duties of inspection of electric installations in order to prevent electricity-related disaster shall be established.
Technology
Industrialization support: 
The Minister of Commerce, Industry and Energy shall formulate and implement a plan for the creation of the foundation of the electric utility industry (hereinafter referred to as "plan for the creation of the foundation of the electric utility industry") in order to promote the sustained development of the electric utility industry and the stability of the supply and demand of electricity.