Korea pledged ₩250/kWh offshore wind LCOE by 2030. The UK lifted strike prices +55%, BNEF global benchmark +12%, yet Korea's auction ceiling has been cut every year — cumulatively −18%. The market is already answering.
Korea Offshore Wind Daily · May 14, 2026
Korea Offshore Wind Auction 2026 H1
9 projects · 3.6 GW total bids · Record 2:1 competition ratio
3,625
MW Total Bids
Korea Electric Power Technology (KEPCO E&C, CEO Kim Tae-gyun) is accelerating its entry into the Vietnamese offshore wind market. On April 23, the company signed a Joint Development
Shell, BP, Equinor, RWE, Macquarie — five of the world's most capable offshore wind developers have exited or stalled in Korea. This is not a coincidence. It is a structural verdict on Korea's permitting regime, grid policy, and political economy.
Building a long-term consultation framework with residents and fishermen is drawing attention as a model for securing local acceptance.
Fishing communities and residents said that continued official discussion structures reduce
Something feels off in South Korea’s wind power market these days. Reports spreading across the industry about foreign companies withdrawing from or scaling back their businesses are difficult to
Two new legislative proposals in Korea are raising significant concerns among offshore wind developers. One bill suggests the government take up to 20% equity in projects, while another, introduced on
Korea has designated 14.4 GW of offshore wind zones. It has 0.35 GW connected to the grid. The gap is not turbines, permits, or capital — it is transmission infrastructure, and the timeline to fix it is longer than the industry wants to admit.
Korea to run 1.8GW offshore wind competitive bid in H1, with a lowered price cap
The Ministry of Climate announced a first-half competitive tender totaling 1.8GW of offshore
Korea sets first-half offshore wind bid at 1.8GW, with a lower price cap
The Ministry of Climate announced a first-half competitive bidding round totaling 1.8GW for offshore wind,
South Korea's government has introduced a bill mandating offshore wind farm operators to share project profits with the public, aiming to alleviate energy costs for citizens.
Korea's offshore wind sector anticipates a surge in bidding activity ahead of the Renewable Portfolio Standard (RPS) sunset, though underlying profitability issues raise investor caution.
