South Korea Wind Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)

South korea wind energy market size in 2026 is estimated at 3.27 gigawatt, growing from 2025 value of 2.42 gigawatt with 2031 projections showing 14.73 gigawatt, growing at 35.10% CAGR over 2026-2031. This report is Segmented by Location (Onshore and Offshore), Turbine Capacity (Less Than 3 MW, 3 To 6 MW, and Above 6 MW), and Application (Utility-Scale, Commercial and Industrial, and Community Projects). The Market Size and Forecasts are Provided in Terms of Installed Capacity (GW).

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:

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

Segment Analysis

Offshore installations, which accounted for just 6.55% of capacity in 2025, are expected to eclipse onshore assets by 2031 as developers race to meet the 12 GW target, propelling the South Korean wind energy market toward coastal industrialization. Onshore repowering adds efficiency but only modest net capacity, whereas floating foundations unlock East Sea sites that were previously inaccessible due to depths of 100 meters.

Offshore success reconfigures supply chains: Korean shipyards fabricate semi-submersibles, LS Cable provides localized subsea arrays, and domestic content rules channel spending into Korean steel, electronics, and port infrastructure. High capacity factors of 35-40% offset capex premiums and justify grid reinforcement to Seoul-Incheon load centers, confirming offshore wind as the dominant growth engine of the South Korean wind energy market.

Complete Report Scope:

• By Location
  • Onshore
  • Offshore
• By Turbine Capacity
  • Up to 3 MW
  • 3 to 6 MW
  • Above 6 MW
• By Application
  • Utility-scale
  • Commercial and Industrial
  • Community Projects
• By Component (Qualitative Analysis)
  • Nacelle/Turbine
  • Blade
  • Tower
  • Generator and Gearbox
  • Balance-of-System

List of Companies Covered in this Report:

• Ørsted A/S
• Equinor ASA
• Vestas Wind Systems A/S
• Siemens Gamesa Renewable Energy S.A.
• Doosan Enerbility Co., Ltd.
• Korea Electric Power Corporation (KEPCO)
• CS Wind Corporation
• Hyosung Heavy Industries Corporation
• SK E&S Co., Ltd.
• Hanwha Corporation
• Hyundai Heavy Industries Co., Ltd.
• Korea South-East Power Co., Ltd. (KOEN)
• Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME)
• TotalEnergies (Total Eren SA)
• Copenhagen Infrastructure Partners P/S
• Macquarie Green Investment Group
• Shell plc
• EDP Renewables S.A.
• Global Wind Energy Co., Ltd.
• Elenergy Co., Ltd.
• TÜV SÜD AG
• LS Cable & System Ltd.

Additional Benefits:

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