According to South Korea's power trading statistics system (EPSIS), coal-fired power accounted for 33.3% of the country's total electricity generation in the first nine months of 2026, surpassing nuclear power's 30% share for the first time in three years. The surge is attributed to elevated LNG prices caused by Middle East conflicts, pushing utilities toward cheaper, stable coal generation. Meanwhile, LNG's share fell to 28.1% from 32.9% year-over-year.

The International Energy Agency projects global coal demand will hit a record 894 million tons in 2026, up 1.2% annually, driven by LNG supply disruptions and elevated gas prices. Korea's coal demand is expected to rise 6% to 119 million tons this year, reversing prior forecasts of a 4% decline.

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