The Ulsan Floating Offshore Wind Association has officially been launched with the aim of promoting the development of the offshore wind industry in the South Korean region.

The association is made up of the Ulsan Chamber of Commerce and Industry (UCCI), along with Korea Floating Wind, Firefly Offshore Wind Farm, Haewoori Offshore Wind, Gray Whale Offshore Wind Power and Munmubaram.

Representatives of the respective companies attended the ceremony to highlight the importance of collaboration and discuss ideas relating to the development of the offshore wind industry in Ulsan.

The association was originally established to help overcome issues faced by offshore wind projects in the South Korean region by providing professional research on offshore wind policies.

UCCI chairman Lee Yuncheol said in a press release: “The launch of the Ulsan Floating Offshore Wind Association marks the first meaningful step in building an offshore wind power ecosystem in the region and going carbon-free.

“Going forward, the UCCI will work closely with the association as well as relevant authorities at the central and local levels in order to successfully establish Korea’s first floating offshore wind farm.”

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The association plans to actively collaborate with all stakeholders related to offshore wind power projects and provide relevant authorities with advice for the development of the offshore wind power and renewable energy industries.

Wind power capacity has been slowly on the rise in South Korea, growing by 15% from 2010 to 2021, according to GlobalData. Generation grew by 13% from 2010, reaching a total output of just over 3TW in 2021. Analysts predict that installed capacity will increase by 1.65GW from 2022 to 2035, at which point wind power is expected to account for 9% of total installed energy capacity in the country.

South Korea signed an agreement with the UK government earlier this week pledging cooperation on the development of nuclear energy. The two countries also agreed to collaborate on the expansion of renewable energy capacity including offshore wind.