The number the government set is a contract price, not an LCOE
The first Renewable Energy Master Plan was released on 19 May 2026. The figure it sets out for offshore wind is a contract price. Starting from the ₩330 range in 2025, it passes the high ₩200s in 2028 and falls to ₩250 or lower per kilowatt-hour by 2030 and ₩150 or lower by 2035. The plan presents this as an estimated path.
What matters here is that the figure is a contract price rather than a levelised cost of energy. A contract price is what a developer is actually paid, and it is settled by the ceiling and by competition. What the government can move directly is the ceiling, the volume and the auction rules. It does not set the cost of generation.
That changes the question. Rather than arguing over whether ₩250 is the right target, the useful thing is to look at what is actually moving toward it. The first place to look is the ceiling.
