South Korea has awarded five offshore wind projects totaling 1.78 GW in its first-half 2026 offshore wind auction. The auction attracted bids for 3.65 GW across nine projects, and achieved a competition ratio exceeding 2:1. The selected portfolio includes more than 1.2 GW of fixed-bottom capacity, 532 MW of floating offshore wind, and a 160 MW public-led project.
Winning bids include 504 MW Haesong 3 project by Copenhagen Offshore Partners, 340 MW Hanbit project by B.Grimm, 250 MW Gulupdo project by Hanwha Group and SK Group all in the fixed-bottom segment, 532 MW Haewoori 2 floating offshore wind project by CIP and SK Group, and 160 MW Geumodo offshore wind project by DL E&C and Korea Midland Power in the public-led segment.
In June 2026, Pacifico Energy Korea signed an MoU with Hana Bank and Hana Securities to explore financing solutions for the 3.2 GW Jindo Offshore Wind Project Cluster in South Korea. The MoU will involve the three parties collaborating on funding strategies covering the development, construction and operation phases of the offshore wind portfolio, while also developing a financing model for Korea’s offshore wind industry.
