Equinor, a Norwegian state-owned energy company, has decided to withdraw from the Korean market 12 years after entering it. The company established a Korean subsidiary in 2014 and pursued three floating offshore wind projects, but failed to achieve results as business uncertainty grew.
According to the energy industry on October 15, Equinor Korea, the Korean subsidiary of Equinor, has decided to close its office by the end of the year. Equinor Korea has already laid off all its staff.
Equinor stated on its website that it has decided not to pursue further offshore wind business opportunities in Korea.
