Issue Balancing demand forecasts by decomposing technology-driven efficiency effects

Summary

Korean demand outlooks have become fairly specific about technologies that add load, such as data centres, advanced industry and electrification. Efficiency that accumulates through market forces remains comparatively unstructured in those outlooks. The author therefore calls for efficiency gains from technology change to be explained concretely and reflected in balance with growth factors. Both growth drivers and efficiency drivers should be broken down element by element in the forecast. This matters most in fast-moving sectors, where growth effects and offsetting effects need to be considered together.