IMARC Group has recently released a new research study titled “South Korea Waste to Energy Market Size, Share, Trends and Forecast by Technology, Waste Type, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

South Korea Waste to Energy Market Overview

The South Korea waste to energy market size reached USD 884.3 Million in 2024 and is forecasted to grow to USD 1,377.7 Million by 2033, with a CAGR of 5.05% during 2025-2033. The market growth is driven by strong government policies promoting sustainable waste management, increasing municipal solid waste in urban developments, and technological advancements improving energy recovery efficiency.

Study Assumption Years

●     Base Year: 2024

●     Historical Year/Period: 2019-2024

●     Forecast Year/Period: 2025-2033

South Korea Waste to Energy Market Key Takeaways

●     Current Market Size (2024): USD 884.3 Million

●     CAGR (2025-2033): 5.05%

●     Forecast Period: 2025-2033

●     South Korea’s regulatory environment strongly supports sustainable waste management with policies to promote circular economy and advanced WTE technologies.

●     Seoul Metropolitan Government targets a 10% reduction in daily plastic production by 2026 and aims to boost recycling rates from 69% to 79%.

●     WTE plants are vital in treating non-recyclable waste amid rising municipal solid waste in urban cities such as Seoul (pop. 10,349,312) and Busan (pop. 3,678,555).

●     Technological advancements in thermal and biological WTE processes increase efficiency, reduce emissions, and enable energy recovery.

●     Large urban infrastructure projects like district heating systems further enhance energy utilization from waste.

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Market Growth Factors

Government Policies and Regulatory Support:

The South Korean WTE market benefits from a robust regulatory framework and strategic government initiatives encouraging sustainable waste management. In 2025, the Seoul Metropolitan Government unveiled plans to foster a circular economy that reuses waste materials like vinyl, fabrics, and banners. Concrete targets include cutting daily plastic production by 10%, from 2,753 tons to 2,478 tons by 2026, and raising the recycling rate from 69% to 79%. Moreover, subsidies, tax incentives, and public-private partnerships aim to attract investments in energy recovery facilities. The Green New Deal policy emphasizes renewable energy growth, including WTE, aligning with South Korea’s carbon neutrality goal by 2050, supported by comprehensive financial and regulatory backing.

Urban Developments and Rising Municipal Solid Waste Generation:

Rapid urbanization and industrialization contribute to increased municipal solid waste (MSW) production within South Korea. Urban centers like Seoul, with over 10 million residents, and Busan, with nearly 3.7 million residents, face significant waste management challenges due to land shortages for landfill expansion and the environmental impact of waste accumulation. This scenario makes WTE technologies appealing for managing non-recyclable waste efficiently, converting refuse into electricity and heat. South Korea’s waste management prioritizes recycling and resource recovery, and WTE plants play an essential role in handling leftover waste. The growing electricity demand in dense urban areas adds to the appeal, increasing local energy security through WTE solutions.

Technological Advancements and Infrastructure Development:

South Korea demonstrates strong capabilities in innovating and adopting advanced thermal and biological WTE technologies such as incineration with energy recovery, anaerobic digestion, and gasification. The country’s advanced manufacturing and research sectors foster continuous upgrades to enhance WTE system efficiency, reduce emissions, and improve energy yields. The integration of smart monitoring and control systems bolsters operational reliability and environmental compliance. Large urban projects utilizing WTE plants for district heating exemplify efficient energy use from waste. Furthermore, the development of infrastructure compatible with WTE plants, particularly in key cities like Seoul and Busan, supports market growth. For example, in 2024, PureCycle Technologies planned Asia's first recycled polypropylene plant in Ulsan with a capacity of 60,000 tons/year, enhancing plastic waste recycling efforts.

Market Segmentation

Technology Insights:

●     Thermal: Includes incineration and other heat-based WTE technologies converting waste to energy, focusing on efficiency improvements and emission reductions.

●     Biological: Encompasses biochemical methods like anaerobic digestion and gasification that biologically process waste into energy.

Waste Type Insights:

●     Municipal Solid Waste (MSW): Waste generated from residential and urban areas, non-recyclable fractions processed through WTE plants.

●     Industrial Waste: Waste originating from manufacturing and industrial operations suitable for energy recovery via WTE technologies.

Regional Insights:

●     Seoul Capital Area: A major urban market with high waste production and infrastructural integration for WTE solutions.

●     Yeongnam (Southeastern Region): Includes populous cities contributing to waste volume and energy demand.

●     Honam (Southwestern Region): Regional markets managing waste and employing WTE technologies.

●     Hoseo (Central Region): Central regional contributions to waste-to-energy market.

●     Others: Additional areas contributing to overall market growth.

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Regional Insights

The Seoul Capital Area is the dominant region in the South Korea waste to energy market, driven by high urban population density and growing waste volumes. In 2025, Seoul's population is projected at 10,349,312. Urban infrastructure projects and strong recycling targets contribute to the market expansion. This region benefits from advanced WTE integration and represents a significant share of the total market, supporting sustainable waste management and local energy security.

Recent Developments & News

In 2024, PureCycle Technologies, a U.S.-based advanced recycling firm, entered into a non-binding agreement with SK Geo Centric (SKGC) to establish Asia's inaugural recycled polypropylene plant in Ulsan, South Korea. The facility boasts an annual capacity of 60,000 tons and was completed by late 2024. This development highlights ongoing innovations and investments in plastic waste recycling within the WTE market in South Korea.

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