Offshore Wind as Industrial Strategy: Strengthening Korea’s Supply Chain for Energy and Economic Security

Sul-Ki Lee
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Sul-Ki Lee: Korea Institute for Industrial Economics and Trade

No 20, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Addressing climate change and achieving a sustainable energy transition have emerged as two of the most urgent global challenges of the 21st century. In pursuit of net-zero targets, countries around the world are accelerating their deployment of renewable energy. Among these, offshore wind power has gained growing recognition as a strategic pillar of the global energy mix. Compared to onshore wind, offshore wind offers greater generation efficiency, has fewer environmental constraints, and is more conducive to large-scale project development.

South Korea has also underscored renewable energy expansion as a key pillar of its 2050 carbon neutrality strategy. In its 10th Basic Plan for Electricity Supply and Demand, the government set a target of installing 14.3 gigawatts (GW) of offshore wind capacity by 2030 and has introduced a range of policies and support measures to facilitate this goal.

Nevertheless, Korea’s offshore wind market and industry remain in an early stage of development. Structural challenges persist, including a high dependence on foreign-made equipment and weak competitiveness in the domestic supply chain.

Keywords: alternative energy; renewable energy; green energy; wind power; wind energy; offshore wind; floating (search for similar items in EconPapers)
JEL-codes: Q42 Q48 Q55 (search for similar items in EconPapers)
Pages: 14
Date: 2025-05-31
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