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2026 Vol.25, Issue 1 Preview Page

Research Article

The Relationship between Renewable Energy, Nuclear Energy, Fossil Fuel Energy and Economic Growth in Korea

한국의 신재생, 원자력, 화석연료 에너지와 경제성장간의 관계 분석

Suyi Kim1*
김 수이1*
1Professor, School of Business Management, Hongik University Sejong Campus
1홍익대학교 상경학부 교수
*Corresponding Author
31 March 2026. pp. 37-64
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Abstract

This study investigated the impact of various energy sources on South Korea’s economic growth from 1990 to 2023, utilizing an Autoregressive Distributed Lag (ARDL) model. To derive policy implications for the low-carbon energy transition, energy sources were categorized into nuclear power, renewables, and fossil fuels. The results indicate that in the long run, both fossil fuels and nuclear power positively contributed to economic growth by providing a stable energy supply, with the impact of fossil fuels being more pronounced. In contrast, the long-run contribution of renewable energy was found to be statistically insignificant. In the short run, an increase in fossil fuel consumption had an immediate positive effect on economic growth. However, no significant short run impacts were observed from either renewable or nuclear energy. These findings suggest that while the expansion of renewable energy is essential for addressing climate change, it has not yet emerged as a key driver of economic growth in South Korea. Therefore, policy interventions are necessary to bolster the competitiveness of the domestic renewable energy industry, particularly in solar and wind power, to cultivate it as a new engine for national growth.

Keywords
ARDL
Renewable energy
Energy mix
Nuclear Energy
Economic Growth

본 연구는 1990년부터 2023년까지 한국의 경제성장에 다양한 에너지원이 미친 영향을 ARDL 모형을 활용하여 분석했다. 저탄소 에너지 전환에 대한 정책적 시사점을 도출하고자 에너지원을 원자력, 신재생에너지, 화석연료로 구분하였다. 분석 결과, 장기적으로 화석연료와 원자력은 안정적인 에너지 공급원으로서 경제성장에 긍정적인 영향을 미쳤으며, 그 영향력은 화석연료가 원자력보다 더 큰 것으로 나타났다. 반면, 신재생에너지의 장기적 성장 기여도는 통계적으로 유의미하지 않았다. 단기적으로도 화석연료는 경제성장에 즉각적인 긍정적 효과를 보였으나, 신재생에너지와 원자력은 유의미한 단기적 영향을 관찰하기 어려웠다. 이러한 결과는 기후변화 대응을 위해 신재생에너지 보급 확대가 필수적임에도 불구하고, 아직 신재생에너지가 경제성장의 동력으로 작용하지 못하고 있음을 시사한다. 따라서 향후 태양광 및 풍력 발전을 중심으로 국내 신재생에너지 산업의 경쟁력을 강화하여 새로운 성장동력으로 육성하는 정책적 노력이 요구된다.

키워드
ARDL
신재생에너지
에너지믹스
원자력에너지
경제성장
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Information
  • Publisher :Korea Energy Economic Institute·Korea Resource Economics Association
  • Publisher(Ko) :에너지경제연구원·한국자원경제학회
  • Journal Title :Korean Energy Economic Review
  • Journal Title(Ko) :에너지경제연구
  • Volume : 25
  • No :1
  • Pages :37-64
  • Received Date : 2026-01-25
  • Revised Date : 2026-03-13
  • Accepted Date : 2026-03-16
  • DOI :https://doi.org/10.22794/keer.2026.25.1.002
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