Power grid described as core infrastructure for national competitiveness
Democratic Party of Korea lawmaker Ahn Do-geol said Monday that the power grid is "core infrastructure for the era of AI and energy transformation" and called for urgent expansion through diverse means, including private investment. His remarks came at a seminar on building a successful West Sea submarine transmission network held at the National Assembly.
"Large-scale grid expansion is essential to support the future of our economy — AI data centers, advanced manufacturing, future mobility and renewable energy expansion," Ahn said. The government's 11th Long-Term Transmission and Substation Facilities Plan alone requires investment exceeding 70 trillion won (about $45.3 billion), he added.
Ahn said that while the grid has traditionally been built through fiscal spending and public enterprise investment, that approach alone would struggle to deliver the necessary investment on time as competition in AI and energy transition intensifies. "We must shift to a new investment paradigm that actively draws on private capital and creativity," he said.
He also said that of the 150 trillion won National Growth Fund being pursued by the Lee Jae Myung administration, approximately 50 trillion won is earmarked for infrastructure investment, adding that the groundwork is being laid to supply the long-term, stable funding needed for grid expansion projects.
Ahn outlined five priorities going forward: building a West Sea submarine high-voltage direct current (HVDC) fast power grid; expanding transmission networks along the East and West coasts; developing renewable energy interconnection networks; establishing a revenue structure and risk-sharing framework to encourage private investment; and creating a financial model linking the National Growth Fund, policy finance and private investment.
sij@heraldcorp.com
