Two offshore wind developments with a combined capacity of 884MW are progressing in South Korea, with projects planned in Taean, Chungcheongnam-do, and waters near Yokji, Gyeongnam.
The developments comprise a 500MW offshore wind project in Taean and a 384MW project near Yokji. They form part of a wider domestic investment plan covering renewable energy and digital infrastructure, with total project costs stated at 20 trillion won.
In March 2025, a 1 trillion won investment memorandum of understanding was signed with Chungcheongnam-do and Taean County. The plan covers the development of a large renewable energy complex, including offshore wind, in the Taean area by 2030.
If implemented as planned, the Taean development is expected to generate more than 1.6TWh of clean electricity annually. The project is also expected to reduce greenhouse gas emissions by approximately 740,000 tonnes a year by replacing fossil fuel-based power generation.
The renewable energy business covered by the investment plan also includes battery energy storage systems. Its global development portfolio across onshore wind, solar and offshore wind totals 38GW, while its BESS pipeline stands at 25GWh.
Digital infrastructure is another part of the domestic investment strategy. The source describes a separate wholly owned digital infrastructure subsidiary established after the relevant business, personnel and development pipeline were separated from the renewable energy operation. The structure is intended to connect renewable electricity with power demand from AI data centers.
Supply chain cooperation is also being explored for the Yokji offshore wind project. Discussions have involved Gyeongnam Province, Korea Midland Power, SK Oceanplant, HSG Sungdong Shipbuilding and GS Entec.
The cooperation under consideration covers domestic participation in offshore wind equipment procurement, construction and operations. Relevant supply chain areas include substructures, cables, substation equipment and vessels.
The renewable energy business has also approached companies in the Gyeongnam region regarding possible long-term cooperation linked to the Yokji project.
Its global renewable energy development portfolio totals 38GW, alongside a 25GWh BESS pipeline. More than 1,000 employees work across over 80 headquarters and field offices worldwide.
