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Assessing the stability of the Republic of Korea's energy supply

Vol. 17, Iss. 12, DECEMBER 2019

Received: 16 September 2019

Received in revised form: 6 October 2019

Accepted: 30 October 2019

Available online: 13 December 2019


JEL Classification: F0, N7, O5, Q3

Pages: 2387–2398

Yoon Y.M. Lomonosov Moscow State University (MSU), Moscow, Russian Federation

Subject This article discusses the issues related to stable energy supply as a factor in the development of the national economy.
Objectives The article aims to present an original interpretation of the method of assessing the energy supply stability, and find out whether it is feasible to apply it as far as the Republic of Korea is concerned.
Methods For the study, I used the methods of post-event, systematic, and structural analyses, as well as grouping, sampling, comparison, and generalization.
Results The article presents an index developed to systematically assess the energy supply stability. Using this index to assess the stability of the Republic of Korea's energy supply, the article proves its practicality.
Conclusions and Relevance The stability of Korea's energy imports depends on stability in exporting countries to a great extent. Increasing the share of domestic energy sources (nuclear power plants and renewable energy sources) and the share of Russian natural gas imports contributes immensely to the composite stability index of Korean imports improving. The proposed method of assessing Korea's energy security can be used to assess the stability of energy imports from other countries.

Keywords: stability, risk, energy transport route, energy dependency, energy transformation, Korea


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