Abstract
Abstract Prior to full-scale implementation of smart grid, the Korean government is conducting a smart grid testbed in Jeju island. However, the participants of the ongoing program are skeptical about the success of the expansion of smart grid. The concern rises from various reasons; the limits of the Korean electricity market mainly led by both the government and KEPCO, high stability and reliability of the existing electricity grid, insufficient utilization of renewable energy, and public fear of raised electricity bills. Five key issues in regards to facilitating the Korean smart grid market are extracted and evaluated. The issues are conflict of interest among participants, the effect of introducing real-time pricing, lack of customer participation of demand response, and absence of business models. Key Words : Power SmartGrid, Real-Time Pricing, Demand Response, Business Model, City-wide Testbed Received 3 September 2013, Revised 10 October 2013Accepted 20 November 2013Corresponding Author: Suk-Jae Jeong(Business School, Kwangwoon University)Email: sjjeong@kw.ac.krⒸ The Society of Digital Policy & Management. All rights reserved. This is an open-access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.otg/licenses/by-nc/3.0), which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is ISSN: 1738-1916 properly cited.
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