2025 is shaping up to be a defining year for offshore wind in South Korea
Last week, South Korea launched its first of two PPA auction rounds in 2025, targeting 1.25 GW of fixed-bottom offshore wind capacity. This includes 500 MW reserved for public-led projects and 750 MW for general projects.
The auction is another testament of the South Korean government’s willingness-to-pay for offshore wind as they continue to implement the pipeline of offtake auctions.
This PPA auction round is still taking place under the open-door regime, while in parallel the Offshore Wind Promotion Act is being implemented in South Korea, which was approved in February 2025 with an aim to transition the market into a centralized model to reduce timelines and complexity of the current permitting regime through a one-stop-shop.
Want to get an overview of the proposed changes to the South Korean offshore wind market?
With Aegir Insights’ new South Korea Market Playbook clients can dive into recent developments, answering questions like:
🔹What is the approach in the initial PPA auction – and what is expected for the second auction in H2 2025?
🔹How will the transition from an open-door scheme to a centralized model impact the existing projects with EBLs, totaling around 30 GW of capacity?
🔹What are the new opportunities to enter the market under this new centralized model?
Reach out to us to receive insights from our new report and discuss South Korea’s offshore wind market.
Aegir Insights' Market Intelligence:
In our Market Playbooks, offshore wind markets are analyzed thoroughly with the aim of identifying growth opportunities. Factors considered include metocean conditions, infrastructure and constraints, LCoE forecasts, market activity overview, policy regime and current renewables build-out, among many other topics relevant for a given market. The reports can be used as a go-to for a market overview that contains all relevant information for early stage market screening.
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