Seven Korean firms to ensure stable supply of cables and key components

Korea's manufacturing and logistics paired with Sweden's technology

Korean and Swedish companies pose for a photo after signing an MOU to build a key supply chain for a floating offshore wind complex in Ulsan, with Swedish Ambassador to Korea Carl-Ulf Andersson (far left) and Ulsan Mayor Kim Sang-uk (far right) in attendance. [Business Sweden Korea provided]
Korean and Swedish companies pose for a photo after signing an MOU to build a key supply chain for a floating offshore wind complex in Ulsan, with Swedish Ambassador to Korea Carl-Ulf Andersson (far left) and Ulsan Mayor Kim Sang-uk (far right) in attendance. [Business Sweden Korea provided]

South Korea and Sweden are joining forces to accelerate the development of a floating offshore wind farm off the coast of Ulsan, combining Korean expertise in manufacturing, shipbuilding and marine engineering with Swedish offshore wind technology and power infrastructure capabilities. Floating offshore wind technology centers on mounting wind turbines on floating structures anchored in deep waters to generate electricity.

Business Sweden Korea hosted the "Korea-Sweden Offshore Wind Supply Chain Cooperation Day" at Lotte Hotel Ulsan on Tuesday, signing MOUs with participating companies to build a key supply chain for the Ulsan floating offshore wind complex project.

The event was attended by Swedish Ambassador to Korea Carl-Ulf Andersson, Business Sweden Korea representative Jessica Olsson and Ulsan Mayor Kim Sang-uk, along with offshore wind-related companies and institutions — including Munmu Baram Co., Atlas Copco Korea and Hitachi Energy Korea — as well as academic and research organizations.

The agreements establish a stable supply chain covering three areas: submarine and power cables, offshore wind subsea structures, and port and logistics services.

The Ulsan project, known as "Munmu Baram," is being developed 70 kilometers off the Ulsan coast with a planned capacity of 750 megawatts. Completion is scheduled for 2032.

In the submarine and power cable segment, LS Cable & System's cable production and supply capabilities will be leveraged to build a supply chain covering everything from design and procurement to cable specifications, production and delivery schedules. For offshore wind subsea structures, GS Entec — a specialist in monopile fabrication — will contribute its experience in large-scale structure manufacturing and its extensive production infrastructure.

In the port and logistics segment, five Ulsan-based logistics companies — Dongwon LOEX, KCTC, Daewoo Logistics, Esprit Logistics and Sehwa Shipping — will handle the import, storage, transport and loading of equipment in connection with the Port of Ulsan.

On the Swedish side, Hexicon, a global floating offshore wind developer, will share Sweden's offshore wind technology and experience with the project's participating companies.

"Through this agreement, we have connected the strengths of Korea and Sweden to an actual floating offshore wind project and supply chain cooperation," Swedish Ambassador to Korea Carl-Ulf Andersson said.


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