Ulsan City and GS Entec Join Hands for 300 Billion Won Offshore Wind Power Investment to Lead Eco-Friendly Energy

Published 27 Aug.2025 08:50(KST)

Investment Agreement for Offshore Wind Power Facilities Signed on the 7th
Ulsan-Mipo National Industrial Complex to Adopt Monopile System

Ulsan City and GS Entec have joined forces to lead the eco-friendly energy industry.

On August 27 at 3:00 p.m., Ulsan City will sign an investment agreement for offshore wind power facilities at the mayor's office on the 7th floor of the main building of Ulsan City Hall, with Mayor Kim Dukyum and GS Entec CEO Jung Yonghan in attendance.

Under this agreement, GS Entec will invest 300 billion won by next year to establish the latest automated facilities for monopile-type offshore wind power at the Ulsan-Mipo National Industrial Complex in Nam-gu, Ulsan.

A monopile is a cylindrical structure made by welding large steel plates, serving as the lower support for offshore wind turbines.

In particular, the company has pledged to prioritize hiring Ulsan citizens when recruiting new employees, promising mutual growth with the local community.

Ulsan City will provide administrative support, such as expediting permits and approvals, to ensure the smooth implementation of this investment.

The city expects that this investment, which aligns with the new government's renewable energy policy, will strengthen Ulsan's eco-friendly energy industry base and revitalize the local economy.

Jung Yonghan, CEO of GS Entec, stated, "With the cooperation and support of Ulsan City, we will grow into a leading company in the eco-friendly energy industry and contribute to the development of the local economy."

Mayor Kim Dukyum said, "This agreement marks an important milestone for Ulsan to become a hub city for eco-friendly energy. We will spare no effort in supporting GS Entec so that it can become a world-class eco-friendly energy company."

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GS Entec, a major affiliate of GS Group established in 1988, has been building global competitiveness by shifting its business focus from oil refining and petrochemical facilities to offshore wind power since 2022.