Market stage
Active market with a track record of projects and visible policy support.
South Korea
South Korea offshore wind overview.
South Korea is an established offshore wind market with a large pipeline and a small but growing operating base. The Sinan cluster and other large projects could make Korea a major Asian market, supported by shipbuilding and heavy-industry capability. Fisheries consent, grid connection and permitting coordination remain the main constraints on delivery.Asia Pacific51.7m people
At a Glance
Installed offshore wind
100 MW National target
12GW by 2030Currently 0.8% achievedOperational projects
9 Pipeline capacity
61.3 GWPlanned, consented and in buildRenewables share
24%of installed capacityOffshore wind share
0.2%of installed capacityCapacity growth since 2020
19% Fastest-growing technology since 2020
Solar PV+15.6 GWMarket Readiness
Consenting window
Typical offshore wind consenting timescale: 34-67 months.
Electricity system
Regulated market. KEPCO (Korea Electric Power Corporation) is dominant state utility and grid operator. MOTIE (Ministry of Trade, Industry and Energy) manages energy policy. Korea Power Exchange (KPX) operates wholesale market. MOF (Ministry of Oceans and Fisheries) manages offshore licensing. KEA (Korea Energy Agency) manages RPS (Renewable Portfolio Standard) which drives offshore wind procurement. Local fisheries consent is a well-documented critical path constraint.
Grid context
Grid connection in South Korea is managed by KEPCO (Korea Electric Power Corporation), which owns and operates the transmission network and is responsible for onshore grid reinforcement. Connection studies are required as part of the project permitting process and the government's offshore wind development zone approach (particularly the South West cluster) includes grid connection planning as a component of zone development. Connection capacity and network investment timelines are a known constraint for large-scale cluster development.
Largest Projects
Planned
3.2 GWPlanned
2 GWPlanned
2 GWPlanned
1.8 GWPlanned
1.6 GWAuthorities
Policy
Ministry of Trade Industry and EnergyMOTIERegulator
Korea Energy AgencyKEASeabed Leasing
Ministry of Oceans and FisheriesMOFGrid Operator
Korea Power ExchangeKPXMarket Operator
Korea Power Exchange (market operator)KPXEnvironment
Ministry of EnvironmentMOEMaritime Safety
Korea Coast GuardKCG