Promoting Floating Wind Power Generation in the East Sea

Korea National Oil Corporation Selected as Lead Institution for Eco-Friendly Energy Convergence Cluster
Completed Feasibility Study on Floating Offshore Wind Power Using Donghae Gas Field

Perspective view of the floating offshore wind power complex in the East Sea.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Korea National Oil Corporation (President Yang Soo-young) announced on the 13th that it plans to participate in the creation of a future eco-friendly energy business complex in the industrial city of Ulsan by collaborating with Ulsan City and related local organizations to establish an eco-friendly energy convergence cluster.

The government decided to promote 10 major collaborative tasks led by public institutions to secure autonomous growth engines in the "Public Institution-led Innovation City Revitalization Plan" announced on July 30. Among them, Korea National Oil Corporation was selected as the representative public institution for the eco-friendly energy convergence cluster project in the Ulsan region.

The representative eco-friendly energy project that the Korea National Oil Corporation is promoting in Ulsan is the next-generation floating offshore wind power project.

To advance this project, the corporation has installed wind measurement instruments on the Donghae gas field offshore platform since October 2018 and has been collecting wind data for project verification.

Additionally, on June 10, it signed an MOU with Ulsan City and related companies and institutions to foster the floating offshore wind power industry, completed a feasibility study, and is steadily preparing with the goal of power generation by 2026.

The corporation expects that once the floating offshore wind power project in Ulsan is fully underway, it will create at least 25,000 jobs during the construction period of related facilities and generate effects that foster upstream and downstream industries, greatly contributing to the revitalization of the regional economy.

A corporation official stated, "The floating offshore wind power complex project aligns with the corporation’s vision to discover various future growth engines, and we will join forces with partners to ensure the success of the project."