South Korea is a strong growth country with an important industrial sector. The electric grid which is very similar to the French one with its 100 GW installed capacity and its 3% annual growth faces with consumption peaks while being isolated electrically. In this context, Demand Response and peak consumption management are strategic issues.
Last November, South Korea launched a Demand Response program one of the most ambitious in the world, by contracting 1500 MW of flexible loads which could be activated by KPX (Korean Power Exchange). Energy Pool, the biggest demand response expert in Europe, managing demand response capacity across various industrial sectors has already launched its activity in Japan in 2014. Energy Pool intends now to become a key player on the Korean Market. Hyosung, a diversified industrial conglomerate is a significant market player in the electricity sector and has also high ambitions regarding Demand Response.
With their complementary expertise, Energy Pool and Hyosung signed today a Business Startup Agreement to enter jointly into the newly created Demand Response market in 2015. Energy Pool will provide its Demand Response expertise and manage operations. Hyosung will rely on its network of industrial partners and provide IT support. Both partners wish to fit rapidly this first partnership into a long-term cooperation enabling them to reach ambitious position on one of the most important Demand Response market in the world.
