In a move that could significantly bolster South Korea’s offshore wind ambitions, SK Ocean Plant has inked a strategic partnership with floating wind developer Munmubaram. The agreement, signed at the Korea-Sweden Sustainable Partnership Summit in Seoul on 16 October, sets the stage for joint development of floating offshore wind structures in the country.
The collaboration will focus on the Munmubaram floating offshore wind project, a substantial 750MW development located about 65–80km east of Ulsan. This project, part of the Hexicon Group portfolio, is one of the largest of its kind in South Korea and is situated in an area renowned for its strong wind resources and favourable sea conditions.
Under the deal, the partners will work together on establishing a floating body production strategy and localising the supply chain through joint pre-FEED (Front-End Engineering Design) research. This cooperation is expected to accelerate the development of South Korea’s floating offshore wind sector, which has been identified as a key growth area for the country’s energy transition.
An SK Ocean Plant official emphasised the project’s symbolic significance, stating, “The Munmubaram project is emblematic of the future of Korea’s offshore wind industry.” The official added that the company aims to leverage its experience and technology to ensure the project’s success, highlighting the potential for knowledge transfer and innovation in this emerging sector.
This partnership comes at a critical time for South Korea, as the country seeks to diversify its energy mix and reduce its reliance on fossil fuels. The development of floating offshore wind projects could play a pivotal role in this transition, particularly in areas with deep waters where fixed-bottom turbines are not feasible.
The collaboration between SK Ocean Plant and Munmubaram is likely to spark further debate and investment in South Korea’s offshore wind sector. As the project progresses, it will be closely watched by industry stakeholders, who will be keen to see how this partnership shapes the future of floating offshore wind in the region. The success of the Munmubaram project could set a precedent for similar developments, potentially unlocking significant new capacity and driving technological advancements in the sector.