South Korea is advancing renewable energy with wind power

South Korea’s wind energy sector has been undergoing rapid developments, particularly in the offshore wind domain, as the country seeks to transition to renewable energy sources and reduce its dependence on fossil fuels.

Installed capacity and growth

• Total capacity: As of 2024, South Korea’s total wind energy capacity stands at approximately 2.5 GW, with the majority coming from onshore wind farms. The offshore wind sector, though still developing, is poised for significant expansion.
• Offshore wind: South Korea’s offshore wind capacity reached 0.4 GW by the end of 2023. While this is relatively small compared to other regional players, the country is actively developing projects that will expand this capacity over the coming years, aiming to become a leader in offshore wind energy.

Government ambitions

• 2030 target: South Korea aims to achieve 14.3 GW of offshore wind capacity by 2030, part of a broader plan to increase renewable energy’s share in the country’s energy mix to 20% by 2030.
• 2050 target: By 2050, South Korea’s target is to have 40.7 GW of offshore wind capacity. This long-term plan is crucial for the country’s transition to renewable energy and achieving its climate and carbon reduction goals.

Current and upcoming projects

• Ulsan Offshore Wind Farm: A major project off South Korea’s southeastern coast, with a planned capacity of 1.2 GW. The first phase is expected to be operational by 2026.
• Buan Offshore Wind Project: Set to have a capacity of 1 GW, this project is scheduled to start construction in the coming years and will contribute to the expansion of South Korea’s offshore wind capacity.
• Jeju Island Wind Project: Jeju Island is being developed as a hub for renewable energy, with various wind energy projects (both onshore and offshore) aimed at supporting South Korea’s renewable energy goals.
• Jeonnam Offshore Wind Projects: These projects, located off the southern coast, will help harness South Korea’s coastal wind resources, playing a critical role in meeting future offshore wind energy targets.
• Onshore wind developments: Onshore wind energy continues to contribute a significant portion of South Korea’s total wind capacity. While onshore wind farms are growing, the government is increasingly focusing on offshore wind to harness the country’s deep waters and vast coastal areas.

Recent developments

• Offshore wind auctions: South Korea conducted its first offshore wind auction in 2024, a significant step to accelerate offshore wind development. This auction attracted major international companies like Ørsted and Vestas, highlighting the growing interest in South Korea’s offshore wind market.
• Green New Deal: South Korea’s Green New Deal includes a heavy focus on renewable energy, including wind power. This plan involves substantial government investment in renewable energy infrastructure and the creation of green jobs.
• Technology and innovation: The country is advancing offshore wind technology, including floating wind turbines, to address challenges in deeper waters. Research and development in this area are critical to unlocking South Korea’s offshore wind potential.
• International collaboration: South Korea is collaborating with European energy companies and other global players to share knowledge and best practices for offshore wind development. These partnerships are key to achieving the country’s ambitious offshore wind goals.

These developments show South Korea’s strong commitment to expanding its wind energy sector, particularly offshore wind, as part of its broader goal to transition to a low-carbon economy. With its ambitious targets for 2030 and 2050, South Korea is positioning itself as a key player in the global wind energy market, with offshore wind expected to play a central role in the country’s energy future.

This information is updated in March 2025

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