Gwangyang Bay emerges as marine energy industrial hub for offshore wind
Gwangyang Bay Economic Free Zone is positioning itself as a major investment destination for offshore wind and marine energy plants, leveraging existing steel and petrochemical infrastructure.
The Gwangyang Bay region, with its industrial base centered on steel and petrochemicals, is drawing attention as a new investment destination as it expands into marine energy plant sectors including offshore wind.
According to the Gwangyang Bay Free Economic Zone Authority on October 14, the authority will participate in the 2026 International Marine Energy Plant Industry Exhibition held at Busan BEXCO to present the Gwangyang Bay region's marine energy plant industrial foundation and investment environment. The authority will also conduct investment attraction activities targeting domestic and foreign companies over two days starting October 14.
South Korea's government has decided to consolidate five state-owned power generators (Korea East-West Power, Korea Midwestern Power, Korea Western Power, Korea Southern Power, and Korea Southeastern Power) into a single entity called 'Korea Generation' after 25 years of operating separately.
Korea's five state-owned generators become one in October 2027. They hold 14.0 GW of offshore wind, a third of the national pipeline. What the merger case rests on, and what it leaves unanswered.