KOWEPO (Korea Western Power) has decided to withdraw from the approximately 6 trillion won Southwest Offshore Wind Expansion Zone 2 project in North Jeolla Province. The lead company of a consortium comprising seven public institutions has halted its participation without prior consultation with other participating agencies, putting the public-led development plan at risk. The implementation agreement for Expansion Zone 1 has also been delayed, creating cascading setbacks across the 12 trillion won Southwest Offshore Wind expansion project.
According to government and industry sources on October 27, 2026, KOWEPO has decided not to participate in the proposal evaluation for Expansion Zone 2, a 1,000-megawatt project planned in the waters off Buan, North Jeolla Province. The consortium, composed of seven public institutions including KOWEPO, KOMIPO (Korea Midland Power), KOEN (Korea South-East Power), KOSPO (Korea Southern Power), EWP (Korea East-West Power), KHNP (Korea Hydro & Nuclear Power), and KEPCO E&C (Korea Electric Power Corporation Engineering & Construction), had passed the qualification screening alone in August and submitted a second-phase business plan.
Regarding the withdrawal, KOWEPO stated: "After reviewing major uncertainties, we determined that there are difficulties in proceeding with the project at this stage and decided not to participate in the proposal evaluation. Specific costs or public recruitment conditions were not direct causes." However, KOWEPO predicted that uncertainties would be resolved once major procedures, including military operational compatibility review scheduled for December, are completed.
