Korea moves toward government-led “planned sites” model for offshore wind development
South Korea is overhauling offshore wind site planning under a government-led “planned location” approach. Under the model, the state would identify suitable offshore wind areas and recruit developers to execute projects, with government taking on early-stage coordination and administrative work to streamline development.
Related coverage: Seoul Economic Daily, Ocean Energy Resources (GWEC)
Korea conditionally designates an 11GW offshore wind cluster to improve development certainty
South Korea has conditionally designated an 11GW offshore wind cluster, aiming to strengthen planning clarity and investor confidence. The designation is positioned as a step toward improving pipeline visibility and supporting faster coordination on development zones as conditions are finalized.
South Jeolla designated as a 7.3GW offshore wind hub; province advances additional 2GW preliminary zone
South Jeolla has secured designation as a 7.3GW offshore wind hub, centered on the Shinan (3.7GW) and Jindo (3.6GW) projects. In parallel, Jeonnam Province is promoting a 2GW preliminary zone linked to implementation of the Offshore Wind Special Law, alongside ongoing tests to assess offshore wind potential.
532MW Anma offshore wind sponsors expected to test bank and ECA appetite this year
Sponsors of South Korea’s 532MW Anma offshore wind project are expected to approach banks and export credit agencies this year to secure financing. The outreach is described as a test of lender and ECA appetite ahead of a formal funding process.
Boryeong offshore wind power complex development accelerates, including testing work
Jeonbuk Power is accelerating development of the Boryeong offshore wind power complex. The update highlights that the project includes offshore wind testing and is expected to have positive local economic impacts.
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 Midland Power (KOMIPO) has submitted a permit application for its 'IC2' offshore wind project in Incheon, which overlaps with the ferry route to Baengnyeongdo and other western islands. This ove
With the upcoming Special Act on Offshore Wind, South Korea's offshore wind auction system needs to shift from pure price competition to focus on project completion feasibility and risk distribution.
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