Ministry of Industry Holds Communication Meeting with Wind Power Industry... Launches Wind Power Industry Innovation Forum

The Ministry of Trade, Industry and Energy announced on the 17th that it held a meeting in Seoul to communicate with wind power-related companies and institutions such as Namdong Power, Dongseo Power, GS Wind Power, Hanwha Construction, Doosan Enerbility, Unison, LS Cable & System, Sungdong Shipbuilding, Korea Fibers, Hyundai Steel Industry, and the Korea Institute of Energy Technology.

Despite efforts so far, the domestic wind power market has not yet been revitalized, and the difficulties faced by the global wind power industry are increasing due to recent inflation and sustained high interest rates. The wind power industry representatives attending the meeting emphasized the importance and urgency of overcoming the current situation and moving forward, stating that wind power is an important means of carbon neutrality and an industry with significant economic ripple effects such as job creation.

The day before, the Wind Power Industry Innovation Forum was launched at the Koreana Hotel in Seoul, and the first subcommittee meetings were held. The Wind Power Industry Innovation Forum consists of about 200 experts from industry, academia, and research institutes. Lee Ho-yeon, Director of the Energy Policy Office at the Ministry of Trade, Industry and Energy, serves as the chairman. The forum is divided into four subcommittees: ▲Policy and System ▲Community Acceptance ▲Industry Promotion ▲Industrial Infrastructure, which will prepare improvement plans.

Meanwhile, domestic wind power generation capacity was 1.9 gigawatts (GW) at the end of 2022, with a target of 19.3 GW by 2030. Additionally, the global wind power market is expected to grow rapidly from 906 GW at the end of 2022 to 1,588 GW by 2030.

Lee Ho-hyun, Director of the Energy Policy Office, said, "The wind power industry is a market with great potential, and countries around the world are striving to secure industrial competitiveness," adding, "Korea is still in the early stages of deployment, and it is time to concentrate all capabilities on expanding the market and building a robust domestic industrial ecosystem."