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To meet South Korea’s ambitious goal of installing 14.3GW of offshore wind power by 2030, the construction of offshore wind farms could generate more than 770,000 job openings, breathing new life into local communities and injecting 87 trillion won worth of investments into the economy.
Offshore wind power plays a crucial role in achieving South Korea’s net zero objectives. However, progress has been limited, with only 150 MW of the targeted 14.3 GW of offshore wind capacity implemented due to sluggish permitting procedures. To unlock the economic advantages highlighted in this study, it’s imperative to expedite the lengthy permitting processes, which often extend up to a decade.
GWEC has published two reports as a call to action, urging South Korean policymakers to tackle critical issues like permitting and to accelerate the nation’s advancement in its energy transition endeavor.These reports prioritize action, providing advice on garnering local community and fisheries industry support for offshore wind projects. They highlight successful global approaches and advocate for the swift enactment and enforcement of the Offshore Wind Power Promotion Act. This legislation aims to streamline permitting procedures, for the seamless deployment of offshore wind projects in South Korea.
Rebecca Williams, Global Head of Offshore Wind at GWEC, commented, “Offshore wind is a good news story for South Korea. Our new report shows that 14.3GW of offshore wind can create a huge energy and economic opportunity, revitalising coastal communities across the country, and playing a role in halting post-industrial decline.Today we are setting out a blueprint to unlock the pathway to offshore wind growth in a way which benefits local communities and stakeholders. Local consensus through education, engagement and trust-building is a crucial first step to rolling out policies for offshore wind.”
The report titled ‘How Offshore Wind Development Can Support Coastal Regeneration’ throws light on the potential economic benefits for local cities from offshore wind.The report suggests that, in collaboration with the industry, local and national governments should establish a comprehensive strategy to capitalize on the advantages of offshore wind. Local governments have a crucial role in executing a strategic framework to involve key stakeholders, including citizens, from the beginning of offshore wind projects.
Speaking about the report, Yunsoung Kim, Professor at Energy and Space Korea, said, “Development of offshore wind farms will be a very important opportunity for regions that are at risk of declining. I hope they seize this chance to rejuvenate.”
The other report is titled ‘Exploring Coexistence Opportunities for Offshore Wind and Fisheries in South Korea’, It enlists practical steps various stakeholders including the governments can take to facilitate offshore wind development to coexist with fishing activities and mutually benefit. Commenting on this report, Cho Kong-jang, Director General of Sustainability Strategy Research Group, Korea Environment Institute, said, “Fishermen worry about the potential loss of livelihood due to offshore wind development. However, It is possible for fisheries and offshore wind farms to coexist. There are success stories to draw from at an international level and even at home – in Incheon city, where a Government-led approach involving fishermen in site selection was well received.”
“GWEC’s reports acknowledge the local fisheries’ concerns and propose a holistic set of policy recommendations that can benefit both industries and allow for them to thrive in the long term.”
