South Korea Floating Offshore Wind Power Market Insight
Published: 24 July 2026 | Report Format: Electronic (PDF) | Author: Aditi and Govind
Deep-water projects and energy transition objectives are driving the South Korean floating offshore wind power market, which is predicted to expand at a compound annual growth rate of 15.59%.
South Korea Floating Offshore Wind Power Market Insights Forecasts to 2035
- The South Korea Floating Offshore Wind Power Market Size Was Estimated USD 892.4 Million in 2025
- The Market Size is Expected to Grow at a CAGR of around 15.59% from 2025 to 2035
- The South Korea Floating Offshore Wind Power Market Size is Expected to rise around USD 3800.2 Million by 2035
Notable Insights for the South Korea Floating Offshore Wind Power Market
- According to foundation type segmentation, spar-buoy and tension-leg platforms (TLP) are becoming more popular for ultra-deep-water applications in Korean seas, whereas semi-submersible platforms predominate because of stability and fabrication advantages.
- According to water depth segmentation, deep-water projects deeper than 100 meters are anticipated to drive future growth, with significant developments planned off the coastlines of Ulsan and Donghae. Projects in depths between 50 and 100 meters lead present installations.
- By 2030, the South Korean government hopes to have 14.3 GW of offshore wind power, with floating projects estimated to provide 6 GW. The Green New Deal plan will provide USD 3.2 billion in state-backed investments.
- The floating offshore wind market in South Korea generated USD 892.4 million in revenue in 2025, a 22% YoY increase fueled by indigenous shipbuilders' efforts in supply chain localization and project approvals.
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Why Buy This Report
- It supports investment and project bidding decisions in Korea's developing offshore wind industry by providing strategic predictions from 2025 to 2035 with detailed segmentation across foundation types and sea depths.
- With the help of the report's thorough competitive research of top domestic shipbuilders and energy companies, stakeholders may efficiently evaluate supply chain capabilities and find collaboration opportunities.
- Businesses in South Korea may traverse regulatory frameworks and obtain project contracts with the use of practical insights on government bidding processes, grid connection plans, and local content criteria.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the South Korea floating offshore wind power market, along with a comparative evaluation primarily based on their product of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
Top Companies in South Korea Floating Offshore Wind Power Market
- Korea National Oil Corporation
- Korea Electric Power Corporation
- Hyundai Heavy Industries Co., Ltd.
- Samsung Heavy Industries Co., Ltd.
- Doosan Heavy Industries & Construction Co., Ltd.
- SK E&S Co., Ltd.
- GS Energy Corporation
- POSCO Energy Co., Ltd.
- Hanwha Energy Corporation
- Korea Hydro & Nuclear Power Co., Ltd.
Recent Developments:
- In September 2024, Supported the construction of offshore infrastructure and the optimization of marine sites by working with both domestic and foreign partners to progress floating offshore wind projects close to Ulsan.
- In August 2024, a high-capacity offshore wind turbine platform with improved efficiency and dependability was introduced for use in upcoming floating offshore wind projects.
Market Segmentation:
South Korea Floating Offshore Wind Power Market, By Foundation Type
- Semi-Submersible Platforms
- Spar-Buoy Platforms
- Tension-Leg Platforms (TLP)
- Barge-Type Platforms
South Korea Floating Offshore Wind Power Market, By Water Depth
- 50-100 Meters
- 100-200 Meters
- Above 200 Meters
South Korea Floating Offshore Wind Power Market, By End-Use
- Utility-Scale Power Generation
- Industrial Self-Consumption
- Island & Remote Area Electrification
Expert Views:
The floating offshore wind energy market in South Korea is set to witness significant growth owing to the presence of aggressive renewable energy goals, supportive government initiatives, and growing investment in deep-water projects. Technological developments in floating wind foundation technology, active involvement of domestic shipyards, and industry collaboration will aid in building resilient supply chains and improving project execution in the region till 2035.
Author: Aditi and Govind By Decisions Advisors and Consulting