South Korea’s SK Ocean Plant has entered into a strategic partnership with floating wind developer Munmubaram to jointly advance floating offshore wind structures, the companies said on Wednesday.
The agreement, signed at the Korea-Sweden Sustainable Partnership Summit in Seoul on October 16, outlines cooperation on the 750-megawatt Munmubaram floating wind project, located approximately 65 to 80 kilometres east of Ulsan. The site is part of the Hexicon Group portfolio and is among the largest floating wind developments in South Korea.
As part of the deal, SK Ocean Plant and Munmubaram will collaborate on a floating platform production strategy and work to localise the supply chain through joint pre-front-end engineering design (pre-FEED) research.
An SK Ocean Plant official described the partnership as a significant step for the domestic offshore wind sector.
“This project is symbolic of the future of Korea’s offshore wind industry,” the official said. “We aim to apply our experience and technology to ensure the project’s success.”
Ulsan has emerged as a key location for offshore wind development due to its consistent wind patterns and favourable maritime conditions.
The companies did not disclose financial details of the agreement.
