Korean Offshore Wind Electrical Power Generation: Current Status and Prospects

Abstract

Offshore wind power generation is recognized as an environmentally friendly and sustainable energy source, rapidly advancing with governmental support in many countries such as Denmark, China, Germany, and across Europe due to its high energy stability, potential, and economic benefits. South Korea has set a target of 17.7GW for wind power generation through its Renewable Energy 3020 Implementation Plan, aiming to supply 12GW of offshore wind power by 2030. However, Korea faces slower development compared to overseas counterparts due to various obstacles including lack of community acceptance, low business feasibility, complex approval processes, and insufficient supply chain. This study identifies fundamental reasons behind Korea's sluggish growth in offshore wind power generation and proposes the following solutions through comparison with leading international cases. 1) Strengthening positive communication with residents by clearly articulating the value and benefits of offshore wind power projects to address community acceptance issues. 2) Resolving low business feasibility issues through the establishment of government-led incentive programs and support measures. 3) Streamlining approval processes to mitigate delays and cancellations in project implementation. 4) Expanding domestic market size and enhancing efficient power interconnection to address supply chain deficiencies.

Keywords

• offshore wind power
• 2050 carbon neutral
• wind market changes
• benchmarking
• wind power generation business feasibility