Research on South Korean Electricity Market and Its Enlightenment to the Construction of Chinese Electricity Market

As a typical representative of the “cost-based power bank”, the Korean power market has encountered various problems in its reform, which led to the imperfect development on the reform. However, it still has important referential significance for China to solve the problems on the reform of current power system. This article first introduces the development process and general situation of the Korean power industry, and reviews the driving factors of market reforms; And then analyzed three important stages and the results achieved in the reform process of the Korean power market and focuses on its “cost-based power bank” market structure and industry management structure. Finally, on the basis of the status quo of the Korean power industry, combined with the problems in the new round of power market reform in our country, the enlightenment for the construction of our country’s power market is proposed.