RWE and the Ulsan Metropolitan City will cooperate on the development of floating offshore wind projects off the South Korean coast with an envisaged capacity of up to 1.5 gigawatts. A corresponding Memorandum of Understanding was signed recently between RWE and Ulsan City, in support of South Korea’s Net Zero 2050 ambition. The country’s goal is to scale-up offshore wind capacity up to 12 GW and achieve 30 percent of renewables in the energy production mix by 2030.RWE has an office in Seoul, staffed with experienced offshore wind experts from South Korea and Europe. The Seoul-based team will continue to work hand-in-hand with relevant authorities, local stakeholders and supply chain partners to ensure that potential floating wind projects are well-sited and developed responsibly and safely.The City of Ulsan will provide its government relationships and local network to support RWE, especially during the planning and permitting phase. After consultations with the relevant authorities, associations and local community, a feasibility study will be conducted to define the plan of developing, constructing and operating floating offshore wind projects off the Ulsan coast.