Ulsan Free Economic Zone Authority and Korea Offshore Grid Industry Association Join Forces to Build Foundation for Offshore Wind Power Industry Development

MOU Signed for Cooperation in Building a Foundation for Offshore Wind Power Industry Development
Expectations for Stable Promotion and Strengthening of Offshore Wind Power Industry

The Ulsan Free Economic Zone Authority and the Korea Offshore Grid Industry Association are joining forces to establish a foundation for the development of Ulsan's offshore wind power industry.

On September 17 at 2:00 p.m., the Ulsan Free Economic Zone Authority will sign a memorandum of understanding (MOU) with the Korea Offshore Grid Industry Association at the Ulsan Exhibition and Convention Center (UECO) to build a foundation for the development and cooperation of the offshore wind power industry.

This agreement marks the first official case of cooperation since the offshore wind power industry was newly designated as a core strategic industry in the Ulsan Free Economic Zone (UFEZ) following the revision of the Ministry of Trade, Industry and Energy's notification on August 4. It is expected to accelerate the construction of the Ulsan floating offshore wind farm and support the advancement of regional strategic industries.

Under this agreement, both parties will actively cooperate on: ▲ the development of the offshore wind power industry and the establishment of an offshore wind power grid infrastructure ▲ sharing policy and technical information related to power systems and conducting joint promotional activities ▲ fostering and supporting companies involved in power grids and equipment manufacturing.

The Korea Offshore Grid Industry Association (Chairman Koo Bonkyu of LS Cable & System) is an organization with expertise in the offshore energy industry and power system sectors. Its members currently include manufacturers of transmission and substation equipment as well as specialized marine construction companies.

In his remarks, Lee Kyungsik, Commissioner of the Ulsan Free Economic Zone Authority, stated, "Ulsan has now established a foundation to become a hub for the offshore wind power industry and a green energy hub. By serving as a bridge between power generation companies and the association, we will expand the power grid infrastructure in the Ulsan region and support related industries."

Park Youngsam, Vice Chairman of the Korea Offshore Grid Industry Association, said, "We hope this business agreement will serve as a turning point for Ulsan and Korea to become global centers for offshore wind power, and that it will open up new opportunities for supply chain companies."

Ulsan Free Economic Zone Authority.

This content was produced with the assistance of AI translation services.