In the relentless pursuit of combating the global climate crisis, the imperative to triple global renewable energy capacity by 2030 looms large. Amidst this urgent call to action, one resource stands out as pivotal in accelerating our clean energy transition: offshore wind power. The Global Offshore Wind Report 2024 from the Global Wind Energy Council (GWEC) heralds a transformative moment, emphasizing that offshore wind is no longer confined to regional success stories but is poised for unprecedented global growth.

The figures speak volumes. In 2023 alone, the global offshore wind industry added 11 GW of capacity to the grid, marking a remarkable 24 percent year-on-year increase. This surge underscores not just numerical growth but a concerted global effort involving governments, industries, institutions and civil society to drive momentum toward a carbon-free future. Crucially, over 20 nations have joined the Global Offshore Wind Alliance (GOWA), committing to ambitious targets of installing 380 GW by 2030
and an astounding 2,000 GW by 2050.

For South Korea, a nation known for its strong industrial capabilities and technological innovation, the emergence of offshore wind represents a golden opportunity. With coastlines on three sides and benefiting from favorable wind conditions at sea, South Korea’s robust maritime and engineering sectors make it ideally positioned for offshore wind development.

Korea possesses most of the ingredients to establish itself as a potential leader in this burgeoning industry. Leveraging existing strengths in shipbuilding, steel, plant engineering and cable industries, Korea can not only meet increasing domestic electricity demand sustainably but also position itself as a formidable player in the supply chain for the global offshore wind market.

The parallels are striking when we consider Korea’s history of swift adaptation and mastery in emerging industries. From semiconductor manufacturing to advanced electronics, Korea has consistently demonstrated its ability to pioneer new t
echnologies and scale them to global prominence. Now, with offshore wind, Korea stands at the precipice of another industrial revolution.

Imagine Korean companies leading the charge in designing, constructing and operating state-of-the-art offshore wind turbines and platforms. Picture Korean-made components powering wind farms across the seas, from the North and Baltic Seas to the coasts of the Asia-Pacific and Latin America. This vision isn’t just aspirational; it’s within reach. Already, international and domestic firms are eyeing Korea as a strategic hub for manufacturing facilities, poised to create jobs, revitalize local economies and bolster the nation’s export capabilities.

The economic benefits are manifold. By embracing offshore wind, Korea can stimulate industrial growth, attract foreign investment and enhance its global competitiveness in renewable energy technology. Moreover, as global corporations increasingly commit to sourcing renewable electricity under the global RE100 initiative, Korean-ma
de offshore wind power presents a compelling solution for the major industrial electricity consumers in Korea, including Samsung, SK and LG.

Government support, not merely as an energy policy but as a strategic industrial policy, is pivotal in realizing this vision. Policies that streamline regulatory processes, provide financial incentives and foster R and D are essential. Regular dialogues between industry and policymakers will be instrumental in the unique challenges of offshore wind deployment.

The urgency of climate action cannot be overstated. The window of opportunity to mitigate catastrophic climate change is narrowing, demanding decisive and concerted efforts. Embracing offshore wind isn’t just about meeting energy targets; it’s about safeguarding our planet for current and future generations, fostering sustainable development and securing a resilient future.

South Korea, the time is now. Let us harness our ingenuity, industrial might and unwavering commitment to sustainability to propel ourselves
to the forefront of the offshore wind revolution. By doing so, we can pave the way for a prosperous, sustainable and just future – one where Korea leads as a global hub for offshore wind innovation, excellence and leadership.

The journey ahead is challenging, but the rewards are immeasurable. Together, let us seize this historic opportunity to shape a cleaner, brighter and more sustainable world through offshore wind.

From Nov. 26-28, the APAC Wind Energy Summit 2024 will be held in Songdo, Incheon, where policymakers from across the Asia-Pacific region and industry leaders around the world will join. The world will be watching to see how the Asia-Pacific region, include

Source: Yonhap News Agency