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Companies asked for two more fabs before anyone answered the power question.
Korea's revised 2040 forecast puts peak demand from advanced industry and AI data centers at 36.2 to 36.5 gigawatts, up 28.5 gigawatts from the previous estimate, with the two sectors accounting for close to 40% of national consumption. Confirmed new nuclear capacity totals only 8.75 gigawatts and arrives mostly after the mid-2030s, while new fabs begin operating around 2030, pushing the industry toward LNG cogeneration as a bridge. Separately, SK Hynix pledged to cancel 40 trillion won of shares within three months, lifting the KOSPI 5.89%. Washington is also weighing lower Canadian steel and auto tariffs that would leave Korean steel at a disadvantage.

Sources:

Companies Themselves Requested More Fabs: More Nuclear and LNG Needed to Cover Power Demand — Seoul Economic Daily, August 20, 2026
SK Hynix's Record Shareholder Return Sends the KOSPI Surging — Seoul Economic Daily, August 20, 2026
US Considers Cutting Canadian Steel Tariffs to 25% and Autos to 15% — Seoul Economic Daily, August 20, 2026
Google Ties Up With Marvell on AI Chips, Warrants Worth Up to 17 Trillion Won — Seoul Economic Daily, August 20, 2026

About AI PRISM:
AI PRISM is Seoul Economic Daily's WAN-IFRA award-winning newsroom AI series, delivering Korean economic news adapted for global audiences. Episodes are produced with AI assistance and reviewed by a human editor.

Tags:
#KoreaBusiness #PowerDemand #Semiconductors #DataCenters #SKHynix #Tariffs #KOSPI #AIPRISM #SeoulEconomicDaily #WANIFRA

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00:04한im의 기관에 대한 집
00:05서울의 지역대에 대한 연방에 대한ятся
00:06한국 criteria asked the government to add two more chip fabs
00:09then asked where the electricity would come from.
00:12통해서
00:132040 power forecast for advanced industry and AI data centers
00:17just rose more than fourfold
00:19SK Hynics committed $40 trillion to buying back
00:22and cancelling its own shares
00:24and Washington may cut Canadian Steel Tariffs
00:27to half the rate Korean Steel pays.
00:29It's Friday, August 21.
00:31Let's look at a business story shaping corporate Korea.
00:34Korea's Climate and Energy Ministry reopened its long-term power plan
00:38because industrial demand outran the previous model.
00:42Chip fabs and AI data centers draw power around the clock,
00:45which intermittent renewables cannot cover alone.
00:48The revision reprices every capital plan that depends on Korean grid capacity.
00:52Here's what the numbers show.
00:54Peak 2040 demand from advanced industry and AI data centers is now put at 36.2 to 36.5 gigawatts,
01:03up 28.5 gigawatts from the earlier 7.7 to 8.
01:07Those two sectors would consume 348.5 terawatt-hours of a projected 885.1 terawatt-hour national total, close to
01:1640%.
01:17Total peak demand is forecast at 158.4 to 165 gigawatts in 2040 against roughly 95 gigawatts at this year's
01:28high.
01:28200 gigawatts of installed solar and wind would deliver about 45 gigawatts to the grid
01:34because output efficiency runs near 20% for solar and 30% for wind.
01:39Confirmed new nuclear capacity totals 8.75 gigawatts and most of it arrives after the mid-2030s,
01:47while the new fabs start running around 2030.
01:49Matter of fact, SK Hynix will repurchase and cancel 40 trillion one of stock within three months
01:55and return more than half of cumulative free cash flow through 2027.
01:58The Cosby closed at 6,852.58, up 5.89%, with SK Hynix gaining 12.73% and Samsung Electronics
02:109.49%.
02:12Washington is weighing a cut in Canadian steel and aluminum tariffs from 50% to 25%,
02:18and Canadian vehicle tariffs from 25% to 15%, while Korean steel stays at 50%.
02:24So what does this mean for executives running Korean operations?
02:28Earlier, we said companies asked for the fabs before asking about the power.
02:32Here's what that actually means for you.
02:35Any Korean capacity decision landing before 2035 sits on a supply gap the current plan does not fill.
02:42And LNG cogeneration is the only source that can arrive ahead of the new reactors.
02:47On trade, a Canada deal would leave Korean steel exporters paying double a direct competitor's rate,
02:52which is a sourcing and pricing item for the board, not a policy footnote.
02:57Watch the final 12th basic plan for electricity supply and demand
03:01for how the 26.6 to 26.8 gigawatt increment is allocated.
03:06Watch Samsung Electronics for a shareholder return package,
03:10the market sizes near 150 trillion won, about 107 billion dollars.
03:15Watch the US-Canada trade text, deferred three days on August 18th,
03:20for the final steel and auto rates.
03:22That's today's AI Prism CEO.
03:26This episode was produced with AI assistance based on Seoul Economic Daily reporting
03:30and reviewed by a human editor.
03:33AI Prism is a Juan Ifra award-winning series.
03:36We'll be back tomorrow.
03:37You've been listening to AI Prism from Seoul Economic Daily.
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