KOEN (Korea South-East Power) and IdoTerraOne, an AI-based infrastructure specialist, have joined forces to jointly develop renewable energy projects, including offshore wind in Incheon.
KOEN, led by President Lee Hyun-bin, signed a memorandum of understanding (MOU) with IdoTerraOne on October 23 at its headquarters in Jinju, Gyeongsangnam-do, to jointly develop renewable energy projects.
The signing ceremony was attended by Yun Jang-hyun, head of KOEN's New Growth Division, and Jung Jong-chan, chief executive of IdoTerraOne, among other representatives from both companies.
The agreement was drawn up to successfully advance the Incheon EcoWind offshore wind project, a 435 megawatt facility to be built approximately 40 kilometers off the western coast of Gulup-do in Ongjin, Incheon, and to establish a strategic partnership to expand the supply of renewable energy across South Korea.
