Svmuu News: South Korea’s Ministry of Climate, Energy, and Environment has begun developing an initial power supply plan for the new semiconductor industrial park in the Honam region and plans to designate additional energy storage systems (ESS) and pumped-storage hydroelectric projects through the 12th Basic Plan for Electricity Supply and Demand. The 11th Basic Plan for Electricity Supply and Demand had estimated that, taking into account factors such as the construction of the Yongin Semiconductor Industrial Complex, South Korea would need a total of 21.75 GW of long-duration energy storage systems by 2038. The South Korean government previously disclosed that the Phase 1 power supply target for semiconductor wafer fabs in the Southwest Region is 6.3 GW. Industry experts in South Korea anticipate that the domestic ESS market will expand to over 40 trillion won in the future. (ZDNet Korea Semiconductor).