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Although there is fierce competition for the superconducting cable market, where a new electric transmission technology to save energy is getting attention, Korea seems to hold its hands behind its back.
According to an industry source on Dec. 1, Korea isn't set to commercialize the technology of superconducting cables owing to the burden of initial investment costs, even if the country has already developed the technology.
Meanwhile, advanced nations are speeding up their efforts for market saturation. Germany has succeeded in commercializing the technology of superconducting cables with support from the government, and the U.S. government started to implement its own commercialization project.
Superconducting cables with just 20 percent of the thickness of copper cables have an advantage of heightening electric power transmission dimensions a maximum of 10 times (5 times in alternating current, 10 times in direct current) compared to previous cables by using the superconducting phenomenon that electric resistance disappears at -196℃. This means that there is hardly any dissipation of electricity during power transmission.
According to the Korea Superconducting Cable Industry Association, the market penetration rate (adoption rate of superconducting cable when installing a new cable) of superconducting cables is going to increase sharply to 85.2 percent in 2030 from 2.9 percent in 2015. The cable market will completely switch to superconducting cables in 2050.
This is why many countries are competing to develop the technology. Currently, 12 countries including South Korea, U.S., Germany, France, U.A.E, India, Australia, Japan, China, and Brazil are working on 20 superconducting cable development projects.
For Korea, although LS Cable & System already holds the technology in its hands, it has not yet been commercialized for capital reasons.
An official from the industry explained, “The production and introduction costs are high now, as the superconducting cable market is still at too early of stage for mass production. Foreign governments are supporting businesses for the commercialization because of the enormous cost of the project.”