Floating offshore wind is regarded as a game-changer technology capable of reshaping the renewable energy market. Unlike fixed-bottom installations, which require structures to be driven into shallow waters around 50 meters deep, floating systems need only cable connections and can generate electricity in deep waters anywhere. In Korea alone, while sites suitable for fixed-bottom installations are concentrated in the southwestern region, floating systems can be deployed on all three coasts, the East, South, and West Sea, expanding the potential for wind power generation several times over.
Ju Young-gyu, president of MunmuBaram, emphasized in an interview with Seoul Economic Daily on Oct. 16 that "the greatest competitive advantage of floating offshore wind is high-quality wind and unlimited site options." Ocean winds typically blow more consistently and strongly the farther they are from land, making floating systems advantageous for stable large-scale power production. In fact, the average annual wind speed off Ulsan, where the MunmuBaram project is being pursued, exceeds 8 meters per second, superior to the 6 to 7 meters per second in the southwestern waters. Another advantage of floating systems is relatively higher community acceptance due to fewer concerns about landscape damage and noise. The MunmuBaram project is a 750-megawatt floating offshore wind project being developed approximately 65 kilometers off the east coast of Ulsan, targeting completion in October 2032.
