{"id":"https://openalex.org/W7160948544","doi":"https://doi.org/10.48550/arxiv.2605.09318","title":"Price Distortions in Korea's Electricity Market: Barriers to Renewable Integration and Reform Pathways","display_name":"Price Distortions in Korea's Electricity Market: Barriers to Renewable Integration and Reform Pathways","publication_year":2026,"publication_date":"2026-05-10","ids":{"openalex":"https://openalex.org/W7160948544","doi":"https://doi.org/10.48550/arxiv.2605.09318"},"language":null,"primary_location":{"id":"doi:10.48550/arxiv.2605.09318","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2605.09318","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"},"type":"preprint","indexed_in":["datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.48550/arxiv.2605.09318","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5008699366","display_name":"Ryungyeong Lee","orcid":"https://orcid.org/0000-0002-2667-7103"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Lee, Ryungyeong","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5002830427","display_name":"Minhan Yoon","orcid":"https://orcid.org/0000-0002-4309-0072"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Yoon, Minhan","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5000333930","display_name":"Hunyoung Shin","orcid":"https://orcid.org/0000-0003-0200-4008"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Shin, Hunyoung","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.8813999891281128,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.8813999891281128,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11185","display_name":"Integrated Energy Systems Optimization","score":0.03020000085234642,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10603","display_name":"Smart Grid Energy Management","score":0.023000000044703484,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/bidding","display_name":"Bidding","score":0.7046999931335449},{"id":"https://openalex.org/keywords/electricity-market","display_name":"Electricity market","score":0.6851999759674072},{"id":"https://openalex.org/keywords/renewable-energy","display_name":"Renewable energy","score":0.5584999918937683},{"id":"https://openalex.org/keywords/electricity","display_name":"Electricity","score":0.5230000019073486},{"id":"https://openalex.org/keywords/grid","display_name":"Grid","score":0.44780001044273376},{"id":"https://openalex.org/keywords/supply-and-demand","display_name":"Supply and demand","score":0.42320001125335693},{"id":"https://openalex.org/keywords/mains-electricity","display_name":"Mains electricity","score":0.4221000075340271},{"id":"https://openalex.org/keywords/market-integration","display_name":"Market integration","score":0.4138000011444092},{"id":"https://openalex.org/keywords/key","display_name":"Key (lock)","score":0.397599995136261},{"id":"https://openalex.org/keywords/electricity-pricing","display_name":"Electricity pricing","score":0.3785000145435333}],"concepts":[{"id":"https://openalex.org/C9233905","wikidata":"https://www.wikidata.org/wiki/Q3276328","display_name":"Bidding","level":2,"score":0.7046999931335449},{"id":"https://openalex.org/C146733006","wikidata":"https://www.wikidata.org/wiki/Q676081","display_name":"Electricity market","level":3,"score":0.6851999759674072},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.5806000232696533},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5587000250816345},{"id":"https://openalex.org/C188573790","wikidata":"https://www.wikidata.org/wiki/Q12705","display_name":"Renewable energy","level":2,"score":0.5584999918937683},{"id":"https://openalex.org/C206658404","wikidata":"https://www.wikidata.org/wiki/Q12725","display_name":"Electricity","level":2,"score":0.5230000019073486},{"id":"https://openalex.org/C187691185","wikidata":"https://www.wikidata.org/wiki/Q2020720","display_name":"Grid","level":2,"score":0.44780001044273376},{"id":"https://openalex.org/C134560507","wikidata":"https://www.wikidata.org/wiki/Q753291","display_name":"Environmental economics","level":1,"score":0.427700012922287},{"id":"https://openalex.org/C120330832","wikidata":"https://www.wikidata.org/wiki/Q166656","display_name":"Supply and demand","level":2,"score":0.42320001125335693},{"id":"https://openalex.org/C184773241","wikidata":"https://www.wikidata.org/wiki/Q387400","display_name":"Mains electricity","level":3,"score":0.4221000075340271},{"id":"https://openalex.org/C2781051278","wikidata":"https://www.wikidata.org/wiki/Q6770814","display_name":"Market integration","level":2,"score":0.4138000011444092},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.4074999988079071},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4056999981403351},{"id":"https://openalex.org/C26517878","wikidata":"https://www.wikidata.org/wiki/Q228039","display_name":"Key (lock)","level":2,"score":0.397599995136261},{"id":"https://openalex.org/C2779280359","wikidata":"https://www.wikidata.org/wiki/Q870344","display_name":"Electricity pricing","level":4,"score":0.3785000145435333},{"id":"https://openalex.org/C64112148","wikidata":"https://www.wikidata.org/wiki/Q160151","display_name":"Market price","level":2,"score":0.37299999594688416},{"id":"https://openalex.org/C57101690","wikidata":"https://www.wikidata.org/wiki/Q2356921","display_name":"Electricity retailing","level":4,"score":0.35109999775886536},{"id":"https://openalex.org/C206345919","wikidata":"https://www.wikidata.org/wiki/Q20380951","display_name":"Resource (disambiguation)","level":2,"score":0.3443000018596649},{"id":"https://openalex.org/C195534400","wikidata":"https://www.wikidata.org/wiki/Q641443","display_name":"Factor market","level":2,"score":0.33880001306533813},{"id":"https://openalex.org/C2777890234","wikidata":"https://www.wikidata.org/wiki/Q795757","display_name":"Energy transition","level":4,"score":0.3337000012397766},{"id":"https://openalex.org/C66887028","wikidata":"https://www.wikidata.org/wiki/Q382444","display_name":"Marginal cost","level":2,"score":0.33309999108314514},{"id":"https://openalex.org/C181169782","wikidata":"https://www.wikidata.org/wiki/Q1571520","display_name":"Vertical integration","level":2,"score":0.32760000228881836},{"id":"https://openalex.org/C105483948","wikidata":"https://www.wikidata.org/wiki/Q7242621","display_name":"Price mechanism","level":3,"score":0.31119999289512634},{"id":"https://openalex.org/C131046424","wikidata":"https://www.wikidata.org/wiki/Q1805337","display_name":"Energy policy","level":3,"score":0.30309998989105225},{"id":"https://openalex.org/C2776190866","wikidata":"https://www.wikidata.org/wiki/Q1341477","display_name":"Energy supply","level":3,"score":0.28209999203681946},{"id":"https://openalex.org/C761482","wikidata":"https://www.wikidata.org/wiki/Q118093","display_name":"Transmission (telecommunications)","level":2,"score":0.28139999508857727},{"id":"https://openalex.org/C544738498","wikidata":"https://www.wikidata.org/wiki/Q861135","display_name":"Distributed generation","level":3,"score":0.27469998598098755},{"id":"https://openalex.org/C2776849302","wikidata":"https://www.wikidata.org/wiki/Q1239166","display_name":"Energy market","level":3,"score":0.27250000834465027},{"id":"https://openalex.org/C186370098","wikidata":"https://www.wikidata.org/wiki/Q442787","display_name":"Energy (signal processing)","level":2,"score":0.2678000032901764},{"id":"https://openalex.org/C29202148","wikidata":"https://www.wikidata.org/wiki/Q287260","display_name":"Resource allocation","level":2,"score":0.2667999863624573},{"id":"https://openalex.org/C2779438525","wikidata":"https://www.wikidata.org/wiki/Q5255048","display_name":"Demand response","level":3,"score":0.25429999828338623},{"id":"https://openalex.org/C10558101","wikidata":"https://www.wikidata.org/wiki/Q689855","display_name":"Smart grid","level":2,"score":0.2531000077724457}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.48550/arxiv.2605.09318","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2605.09318","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":null,"raw_source_name":null,"raw_type":"Preprint"}],"best_oa_location":{"id":"doi:10.48550/arxiv.2605.09318","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2605.09318","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/7","score":0.7484953999519348,"display_name":"Affordable and clean energy"}],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":[],"abstract_inverted_index":{"Structural":[0],"distortions":[1,68],"in":[2,54,140,171],"price":[3,155,173],"signals":[4,174],"within":[5],"the":[6,23,63,144,149],"Korean":[7,146],"electricity":[8],"market,":[9],"governed":[10],"by":[11],"a":[12,17,71,87,98,120,127,167],"cost-based":[13],"pool":[14],"(CBP)":[15],"and":[16,39,42,50,57,69,108,114],"uniform":[18],"pricing":[19,90],"mechanism,":[20],"fundamentally":[21],"undermine":[22],"nation's":[24],"energy":[25,56,179],"transition":[26],"goals.":[27],"The":[28,79,132],"current":[29,145],"market":[30,77,100,107,147,150,169],"design":[31,170],"fails":[32],"to":[33,46,75,92,101,111,119,161,165],"reflect":[34,102],"transmission":[35,94],"constraints,":[36],"real-time":[37,99],"supply":[38],"demand":[40],"dynamics,":[41],"generator-specific":[43],"costs,":[44],"leading":[45],"inefficient":[47],"resource":[48],"allocation":[49],"hindering":[51],"long-term":[52],"investments":[53],"renewable":[55],"grid":[58],"flexibility.":[59],"This":[60],"paper":[61],"identifies":[62],"key":[64,83],"drivers":[65],"of":[66,130,135],"these":[67],"proposes":[70],"holistic":[72],"reform":[73,125],"package":[74,80],"enhance":[76],"efficiency.":[78],"includes":[81],"four":[82],"reforms:":[84],"\\stepcounter{excep}(\\roman{excep})":[85,96,105,115],"introducing":[86],"locational":[88],"marginal":[89],"system":[91,109],"manage":[93],"constraints;":[95],"establishing":[97],"temporal":[103],"value;":[104],"integrating":[106],"operations":[110],"resolve":[112],"inconsistencies;":[113],"transitioning":[116],"from":[117],"CBP":[118],"price-based":[121],"bidding":[122],"system.":[123],"Each":[124],"targets":[126],"distinct":[128],"source":[129],"inefficiency.":[131],"broader":[133],"contribution":[134],"this":[136],"study,":[137],"however,":[138],"lies":[139],"showing":[141],"that,":[142],"under":[143],"design,":[148],"cannot":[151],"readily":[152],"provide":[153],"effective":[154],"signals.":[156],"These":[157],"reforms":[158],"therefore":[159],"need":[160],"be":[162],"implemented":[163],"jointly":[164],"establish":[166],"coherent":[168],"which":[172],"are":[175],"aligned":[176],"with":[177],"Korea's":[178],"policy":[180],"objectives.":[181]},"counts_by_year":[],"updated_date":"2026-07-01T06:00:48.157686","created_date":"2026-05-13T00:00:00"}