Nakwol Blue Heart: Claims of Chinese Capital Dependency and Security Threats Are Distorted... Considering Legal Action

Nakwol Blue Heart, the company promoting the Nakwol Offshore Wind Power Project, has strongly refuted recent criticisms, stating that they are "distortions of facts and unjust claims." The company emphasized, "We are considering legal action against distorted criticisms that could hinder the fair implementation of policy."

On the 30th, Nakwol Blue Heart explained in a press release, "Excessive criticism repeatedly arises around the only offshore wind power project currently under construction in Korea, and these criticisms are driven by certain groups with impure intentions." The company pointed out, "This is similar to the negative public campaigns that occurred during the selection process for offshore wind power operators under previous administrations."

The company stated, "The Nakwol Offshore Wind Power Project is a 364.8MW project with a total investment of 2.3 trillion won. Since construction began in March last year, as of this month, the project has reached a 53% completion rate." They further explained, "As of June, the project is larger than the total capacity of all currently operating offshore wind power in Korea (325MW), and it holds significant importance for the expansion of renewable energy and the revitalization of the domestic industrial ecosystem."

Regarding recent claims of "dependency on Chinese capital," the company refuted them as "clear distortions of fact." The ownership structure of Nakwol Offshore Wind Power consists of 72% held by the Korean company Myungwoon Industrial Development and 28% by the listed Thai company B.Grimm Power. The company stressed that B.Grimm is a Thai company owned by German immigrants. They emphasized, "While foreign operators hold over 60% of power generation permits in reality, Nakwol is, in fact, a domestically led project."

The company also addressed claims that Chinese companies are leading the EPC (Engineering, Procurement, and Construction) work, stating, "The overall construction is being handled by domestic companies such as Samhae E&C and Hoban Industries, with over 100 domestic companies participating in equipment supply, ensuring that 70% of the total investment returns to Korea." They added, "Distorting the reality that some equipment procurement and technical consulting are sourced from China is a reversal of the facts."

The company also dismissed concerns raised by some about potential security threats as groundless. They stated, "We obtained permits after thorough consultations with the Ministry of National Defense and other authorities regarding military operations. Considering the water depth (9?15m) and tidal differences in the area, concerns about submarine navigation are unfounded." They added, "Geological surveys and submarine cable construction were also directly carried out by domestic companies."

Furthermore, the company explained that the integrated control system for the offshore wind farm and the power grid security management system are being established in cooperation with KEPCO KDN, and that the project is being promoted based solely on maritime information disclosed by domestic public institutions.

Nakwol Blue Heart stated, "We will hold those who repeatedly disseminate false information or deliberately foster negative perceptions legally accountable by securing relevant evidence." The company added, "A fair evaluation and reasonable criticism of the offshore wind power project, which is being lawfully promoted in accordance with government policy, are necessary."