Danish officials participating in a large-scale floating offshore wind project off Ulsan visited the city on September 7, 2026, to share investment plans and project progress, and to discuss ways to expand cooperation.
Ulsan City announced that Michael Hemmingsen Vinter, Danish Ambassador to South Korea, visited Ulsan on that afternoon along with officials from Haewoori Offshore Wind, meeting with Ulsan Mayor Kim Sang-wook for talks.
The delegation included Pierre Bagaria, CEO of the Haewoori Offshore Wind Project; Lee Hyun-seung, Head of Business Development at Copenhagen Offshore Partners (COP); and Kim Jae-woo, Executive Director of Project Development at Haewoori Offshore Wind.
The meeting focused on Danish companies' investment in Ulsan and ways to expand cooperation in clean energy, as well as investment plans and permitting progress for the Haewoori floating offshore wind project being pursued off Ulsan.
Project Scale and Participants
The Ulsan floating offshore wind project runs from 2018 to 2031 and will develop a 3.5 gigawatt power generation complex in the exclusive economic zone approximately 58 kilometers east of Ulsan Port, near the East Sea gas field. Total private investment reaches approximately 35 trillion won, with participation from four overseas private investors including Denmark's Copenhagen Infrastructure Partners (CIP).
Current major projects include the Haewoori 1, 2 and 3 projects by CIP, the KFW and EBP projects pursued by Ocean Winds, Mainstream and Geumyang, the Munmubaram project by Hexicon, and the East Sea 1 project involving Korea East-West Power, Korea National Oil Corporation and Equinor.
Planned capacity by project is Haewoori at 1.5 gigawatts, KFW and EBP at 1.125 gigawatts, Munmubaram at 0.75 gigawatts, and East Sea 1 at 0.2 gigawatts.
Progress and Permitting
The Haewoori project achieved results in this year's government competitive auction for wind fixed-price contracts. Three projects including Haewoori 2, Haewoori 3 and EBP participated in the competitive auction held from March to May, and in June the Haewoori 2 project by CIP with 532 megawatts was finally selected.
Ulsan City views the Haewoori 2 fixed-price contract selection as an important turning point for securing project viability and advancing full-scale investment in the floating offshore wind project.
The overall project began with site selection and wind resource measurement from 2018 to 2020, followed by special purpose vehicle establishment and Electricity Business License acquisition procedures from 2021 to 2022. The project then underwent environmental impact assessment and maritime traffic safety assessment, with follow-up permitting including radio wave impact assessment, public water surface use permits and development permits beginning in 2026.
While schedules vary by developer, Ulsan City plans for construction to start between 2027 and 2028, with completion and commercial operation beginning in 2030 to 2031.
Project restructuring has also occurred, with some projects returning their Electricity Business Licenses through adjustments. Currently permitting and investment procedures are proceeding centered on projects with confirmed viability.
Future Prospects
Ulsan City expects that when the large-scale floating offshore wind complex becomes fully operational, it will create new business opportunities linked to the shipbuilding and marine plant industries, and when combined with clean energy industries such as hydrogen and ammonia, it will further strengthen Ulsan's foundation as a future energy industry hub.
Mayor Kim Sang-wook said, "Denmark is an important cooperation partner for Ulsan, which has world-class competitiveness in the clean energy sector. I hope this visit leads to expanded economic and industrial exchange between Ulsan and Denmark and to substantive investment cooperation."
Original Korean article: Ulsansinmun
English brief by Korea Wind Intelligence, koreawindintel.com
