ABSTRACT
The structure of the electricity industry in Korea has changed since the 1997 crisis. Many studies have tried to identify and estimate the restructuring effects by an analysis of the performance of the market. However, the main focus of these studies was not on the efficiency evaluation of units within the industry but to provide guidance to a better direction of the restructuring by examining the performance changes or comparing Korean producers with those of other developed countries. These studies used different methodologies. This chapter summarizes the previous research that has been conducted, focusing on efficiency analysis related to the electricity generation companies or the electricity market as a whole in Korea. The summary includes research published in the Korean language. Owing to an extended data period covering the pre-crisis period, this review provides a somewhat comprehensive picture of the performance in the electricity market for an extended period.
