Wind, Waves, and Currents: Eco-Friendly Energy Comes from the 'Sea'... Korea Institute of Marine Science and Technology and Jungbu Power Sign Marine Energy Development Agreement

On the 24th, the Korea Institute of Ocean Science and Technology and Korea Midland Power signed a memorandum of understanding to cooperate in the development of eco-friendly marine energy.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The Korea Institute of Ocean Science and Technology (KIOST) and Korea Midland Power have joined hands to develop technology utilizing marine energy such as wind, waves, and tides.

On the 24th, the two organizations announced on the 25th that they signed a memorandum of understanding at the KIOST headquarters in Yeongdo-gu, Busan, to develop eco-friendly marine energy and revitalize new industries.

The signing ceremony was attended by KIOST President Kim Woong-seo and Korea Midland Power CEO Kim Ho-bin.

As marine energy is recognized as a renewable energy source that can address climate change and resource depletion issues, the two organizations agreed to cooperate in developing core marine energy technologies such as tidal, tidal current, and wave power generation and promoting industrialization.

The organizations established this cooperation system to participate in achieving carbon neutrality and to respond to the development and commercialization of marine energy technologies such as tidal and tidal current power generation.

Currently, KIOST is developing a 1MW-class tidal current power generation commercialization system with six organizations, including Korea Midland Power, to revitalize the tidal current power generation industry, which is gaining attention as a safe and eco-friendly marine energy source.

Additionally, to foster the tidal current power generation industry, KIOST operates the ‘Tidal Current Power Generation Component Performance Test Building’ at its Busan headquarters and the ‘Offshore Performance Test Site’ in the Uldolmok area.

KIOST’s Coastal Development and Energy Research Center built and operates the country’s first tidal current power plant, the ‘Uldolmok Test Tidal Current Power Plant,’ in Uldolmok, Jindo, Jeollanam-do, since 2009.

Since July last year, it has been selling electricity to Korea Electric Power Corporation (KEPCO) and became the first in the country to obtain the Renewable Energy Certificate (REC) for marine energy.

According to the agreement, the two organizations plan to promote the industrialization of tidal power generation based on their technological capabilities and infrastructure. They also intend to establish a system to promote the development and practical application of marine energy technologies such as tidal current power generation.

At the signing ceremony, President Kim Woong-seo said, “With the signing of this memorandum of understanding with Korea Midland Power, a leader in the energy industry, sustainable renewable energy technology development is expected to gain more momentum,” adding, “KIOST will devote its efforts to leading a carbon-neutral society through ocean science.”

Senior Researcher Lee Jin-hak of the Coastal Development and Energy Research Center said, “Korea has very abundant tidal and tidal current energy, and cooperation with power generation public enterprises like Korea Midland Power is very important to produce electricity using these natural energies,” adding, “We need to expand cooperation with related organizations to build a foundation for an eco-friendly energy industry.”