South Korea Wind Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)

South Korea Wind Energy Market Analysis

The South Korea Wind Energy Market size in terms of installed base is expected to grow from 2.89 gigawatt in 2025 to 17.70 gigawatt by 2030, at a CAGR of 43.69% during the forecast period (2025-2030).

Increased public-sector spending under the Green New Deal, a 48 trillion KRW (USD 43.2 billion) commitment, anchors this expansion and signals a decisive movement away from fossil-based generation. Robust offshore auction activity, rising demand for renewable energy certificates, and direct power-purchase agreements (PPAs) from large manufacturers such as Hyundai Motor reinforce investment confidence. International developers are building local footprints while Korean conglomerates speed up technology localization, and the cumulative effect is reshaping supply-chain alliances and capital flows. Headline risks persist—most notably grid congestion along the Southwest Coast and permitting delays—but regulatory reforms and grid reinforcement budgets are steadily lowering execution risk.

South Korea Wind Energy Market Trends and Insights

Green New Deal & 9th Basic Plan Mandating 12 GW Offshore by 2030

Government alignment between the Green New Deal stimulus and the 9th Basic Plan provides an enforceable target to install 12 GW of offshore wind by 2030, an eighty-five-fold jump from the 142 MW operating base. This statutory goal obliges the grid operator to finance transmission upgrades, while the draft Special Act on wind power promises consolidated permitting and clear service-level timelines. Jeollanam-do’s 75 trillion KRW investment program underpins local port deepening, substation upgrades, and training centers that shorten construction lead times. Policy coupling with the national hydrogen roadmap has widened the revenue stack, as offshore projects will supply green hydrogen electrolyzers co-located at the Sinan and Mokpo industrial zones. State-led coordination reduces offtake uncertainty, lowering capital-cost premiums for private developers. These measures anchor the medium-term uplift in the South Korean wind energy market outlook.

Floating-Wind Testbed off Ulsan Reducing Deep-Sea Project Risk

A 1 GW floating-wind testbed administered by the Korea Research Institute of Ships & Ocean Engineering validates mooring systems that withstand typhoon loads and 60-meter waves, derisking future deployments in Korea’s steep continental shelf waters. Prototype trials confirm that 15 MW turbines mounted on semi-submersible hulls meet structural codes, and proximity to Ulsan’s shipyards cuts platform transport costs by 30%. The acquisition of the 1.125 GW MunmuBaram project by Hexicon after Shell’s exit illustrates sustained foreign appetite for floating projects. Successful scale-up will open more than 300 % in additional technically viable acreage along the East Coast, reinforcing long-term South Korean wind energy market growth.

Permit Bottlenecks From “One-Stop” EIA System Delay FID

The Environmental Impact Assessment regime remains sequential despite its “one-stop” branding, obliging developers to clear maritime, military, and cultural reviews in turn rather than concurrently. The Haewoori offshore wind project illustrates the stress: the EIA consultation spanned 28 months, well above the twelve-month OECD benchmark. Government plans to devolve authority to provincial agencies could truncate processing time, yet agency staffing levels must rise to handle a bulging pipeline. Until execution gaps close, slow approvals will trim the near-term growth rate built into the South Korean wind energy market.

Other drivers and restraints analyzed in the detailed report include:

1. Corporate PPAs From Korean Tech Giants Unlocking Long-Term Offtake
2. Jeju Carbon-Free Island 2030 Accelerating On-Shore Repowering
3. Grid Congestion in Southwest Coast Limiting Curtail-Free Dispatch

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Offshore projects accounted for only 10% of installed capacity in 2024, yet they are set to deliver the bulk of incremental additions, rising at a 116.5% CAGR through 2030. Fixed-bottom sites at Anma and Taean and the 750 MW Bandibuli floating array exemplify the technology mix slated to drive the South Korea wind energy market. The November 2024 auction that cleared 1.5 GW at firm renewable-certificate multipliers provided near-term revenue certainty. Robust shipbuilding supply chains, port cranes, and blade-transport barges reduce logistics hurdles, and standardized turbines above 12 MW are pushing levelized costs toward parity with imported liquefied natural gas.

Onshore wind enjoyed 84.2% of installations in 2024 thanks to earlier FIT regimes and lower capex, but land scarcity, visual-impact concerns, and rising community opposition now inhibit greenfield growth. Repowering margins remain attractive, especially in Jeju and Gangwon where legacy turbines reach end-of-life. Even so, the offshore pipeline of 17 GW under permitting could lift offshore’s share of the South Korea wind energy market size to about 55% by 2030. Developers, therefore, are reallocating engineering talent toward jacket fabrication, subsea cable lay, and floating foundations that can unlock deeper waters.

The South Korea Wind Energy Market Report is Segmented by Location of Deployment (Onshore and Offshore), Component (Turbine, Balance of System, and Services), and End-User Sector (Power Utilities, Independent Power Producers, and Industrial and Commercial). The Market Size and Forecasts are Provided in Terms of Installed Capacity (GW).

List of Companies Covered in this Report:

1. Orsted A/S
2. Equinor ASA
3. Vestas Wind Systems A/S
4. Siemens Gamesa Renewable Energy S.A.
5. Doosan Enerbility Co., Ltd.
6. Korea Electric Power Corporation (KEPCO)
7. CS Wind Corporation
8. Hyosung Heavy Industries Corporation
9. SK E&S Co., Ltd.
10. Hanwha Corporation
11. Hyundai Heavy Industries Co., Ltd.
12. Korea South-East Power Co., Ltd. (KOEN)
13. Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME)
14. TotalEnergies (Total Eren SA)
15. Copenhagen Infrastructure Partners P/S
16. Macquarie Green Investment Group
17. Shell plc
18. EDP Renewables S.A.
19. Global Wind Energy Co., Ltd.
20. Elenergy Co., Ltd.
21. TUV SUD AG
22. LS Cable & System Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support