Are you active in the offshore wind sector? And would you like to know more about your business opportunities in South Korea? Then join the offshore wind trade mission to South Korea from 9 to 13 June. 

Opportunities for the offshore wind sector 

When it comes to offshore wind, the Netherlands and South Korea have similar goals. By 2030, the government wants 21 GW of energy to be generated by offshore wind in the Netherlands. The government in South Korea wants to increase at least 16% of the country’s energy generation by wind turbines in the same year. This is about 19.3 GW of capacity. South Korea will install most wind turbines at sea (14.3 GW). 

Renewable energy policy 

Unlike the Netherlands, the South Korean wind energy market is in its early stages. There are only 3 projects of 124.5 MW. South Korea’s renewable energy policy does focus on wind power, especially offshore wind power. The wind energy auction for 2023 was successfully concluded with 1431 MW of offshore wind and 152 MW of onshore wind, while the first auction in 2022 was only with 374 MW for both onshore and offshore wind combined. 

Larger projects from 2024 onwards 

South Korean private and public offshore wind developers are working on even bigger projects. South Korea’s first commercial-scale offshore wind farm, Jeonnam 1 (99 MW), will be commissioned in 2024. This will be followed by Jeonnam 2 (399 MW) and Jeonnam 3 (399 MW). Construction of more offshore wind farms, such as Wando Geumil (600 MW), Anma (532 MW) and Shinan Ui (390 MW), will start in the coming years. 

Opportunities offshore 

South Korean offshore wind energy developments can significantly accelerate and scale up thanks to close cooperation opportunities with strong steel, shipbuilding and manufacturing industries. The South Korean government seems increasingly interested in tapping into new markets and is working to reduce administrative burdens for companies. This is expected to further accelerate the energy transition. Foreign developers are actively cooperating with South Korean stakeholders and participating in auctions.  

For whom? 

This trade mission is open to Dutch companies, knowledge institutions and organisations active in the offshore wind sector. Dutch companies can especially help with South Korea’s energy transition through their expertise and experience in: 

• development; 
• engineering; 
• installation of large turbines; 
• transport; 
• operation and maintenance; 
• training and education. 

In particular, we also invite women entrepreneurs to participate in this mission. 

Why participate? 

During this mission, Dutch companies, knowledge institutions and organisations can: 

• get acquainted with the South Korean market; 
• investigate market opportunities in South Korea; 
• strengthen existing relations in South Korea; 
• get in touch with potential South Korean business partners, clients or South Korean authorities. 

Program

The programme of this mission includes company visits, informative sessions, networking events and networking receptions. We also reserve time for 1-on-1 matchmaking with South Korean companies and organisations. See the programme below: 

Draft programme Trade Mission Offshore Wind 

Directly following this trade mission, the exploratory offshore energy mission to China will take place from 16 to 21 June. This may be interesting for you to combine with the mission to South Korea. 

Participation and costs 

Participation in the trade mission costs €500 per organisation, excluding VAT (maximum 2 persons).

For more than 2 persons per organisation, you pay €250 extra per person, excluding VAT. Each participant registers separately. 

The costs include participation in the joint programme, local support by the organisation and joint transport. 

 Interpretation, travel and accommodation costs are at your own expense. The Netherlands Enterprise Agency (RVO) is not liable for possible cancellation costs. 

Register 

You can register here until 1 May 2024. 

Registration and the automatic confirmation do not immediately mean that you can participate in this economic mission. You will receive a final confirmation of your participation and a travel proposal after the application deadline. 

Corporate social responsibility 

The Dutch government attaches importance to corporate social responsibility (CSR) and subscribes to the OECD Guidelines for Multinational Enterprises. These set out the CSR standards for internationally active entrepreneurs. Compliance with these OECD guidelines is one of the conditions for participating in this mission. To assess whether your company or organisation meets these conditions, we ask you to complete a CSR self-scan when you apply. 

Want to know more? 

If you have any questions about this trade mission, please contact: 

Jos Hermsen, project leader trade mission South Korea
E: jos.hermsen@rvo.nl.  

Commissioned by:
Ministry of Foreign Affairs