National and international security provided the geopolitical framework for thinking about international politics for much of the Cold War period. In post- Cold War era, matters of economics have gained higher profile in the discussions of geopolitics. This research work analyses the geopolitical affairs of the Korean peninsula, focusing on nuclear and energy issues. Situated at a geostrategic location in Northeast Asia, Korean peninsula has witnessed an active participation by regional and great powers such as Japan, China, Russia and most importantly the United States. Understanding the broader geopolitical trends in the region is important because Korean peninsula constitutes an important flashpoint in the Asian continent greatly affecting the regional peace and security. Energy lies at the heart of virtually all policy approaches to the Korean peninsula''s future. In this background then, it is pertinent to examine the geopolitics of the energy resources of the region. The theoretical approach followed in this work is a Realist one where concept of security dilemma will be applied to analyse how the security dynamics are affecting the region.