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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.
