About Us

  • 집 모양 아이콘
  • 서브헤어 화살표 아이콘
  • About Us
  • 서브헤어 화살표 아이콘
  • About Us

MunmuBaram Co.,Ltd.

‘MunmuBaram’ is a joint venture between Shell and HEXICON AB to develop, construct, and operate a 1.2GW floating wind farm,
located offshore South-East Korea, between 65 and 80 km from the city of Ulsan, South Korea. Stakes in the ‘MunmuBaram’ JV are held
by Shell (80%) and HEXICON AB (20%).

  • MunmuBaram has organized an international team with wide experiences in the offshore industry.
  • Since the project organization was established in November 2018, a total of 25 team members have been working in Korea, and about 80 members have been
       participating in the project, including those working in Hague, Houston and London.

Shareholders

ABOUT SHELL

Shell Renewables and Energy Solutions is
the part of Shell focused on finding commercial
ways to meet the evolving energy needs of
our customers. These solutions include hydrogen,
power from renewable and low-carbon sources
such as wind, solar and natural gas and decarbonisation
options including nature-based solutions
and carbon capture and storage.
This part of Shell also develops new business
models such as clean power-as-a-service,
which addresses how digital technology can better
help customers with their energy needs.

ABOUT HEXICON AB

Hexicon is a world-leading project developer
and technology provider in the emerging sector
of offshore floating wind.
As a project developer, Hexicon develops projects, partnering with regional experts.
As a technology provider, Hexicon provides its patented floating wind design – TwinWind™ – which consists of one foundation with dual turbines.
The company operates in several markets across Europe, Africa, Asia and North America.
Hexicon is listed on Nasdaq First North Premier Growth Market (ticker HEXI).

MunmuBaram's Vision

MunmuBaram is well positioned to support South Korea’s energy transition
and contributes to 2050 carbon neutrality goals

“가치 공유와 지속가능한 발전을 위하여 어민 등 지역사회 및 국내 기업과 상생 협력하여 양질의 일자리를 창출하고,
경쟁력 있는 부유식 해상풍력 개발을 통해 국내 연관 기업의 전세계 부유식 해상풍력 시장 진출을 도와
울산 지역사회는 물론 대한민국 해상풍력 산업 발전에 기여할 수 있도록 최선을 다하겠습니다”

With its global experiences and expertise, MunmuBaram will work closely with
local partners to successfully develop a floating offshore wind project in Korea and
contribute to overall industry growth and job creations.

YoungKyu Ju, Project Director, MunmuBaram

Story Behind the Naming

‘MunmuBaram’ is a compound name conjoining ‘Munmu’, derived from King Munmu, who unified the Three Kingdoms during
   the Silla dynasty in Korea, and ‘Baram’ which is the Korean word for wind. Ulsan, where the project is located, is the legendary
   location where King Munmu’s queen had submerged herself under a great rock in the sea east of Ulsan to become the nation’s
   protector. The name ‘MunmuBaram’ also carries the joint venture’s ambitious goal that it will lead the transition in the Korean
   energy industry, bearing King Munmu’s spirit.

King ‘Munmu’ – Daewangam

울산 대왕암 사진

King Munmu unified Korea during Silla dynasty and
his queen with a heart to protect Silla submerged
herself under a great rock “Daewangam” and
became a dragon.

플러스 아이콘

‘Baram’ – Wind – Wish

             (Wind)   (Wish)

울산 앞 바다

It is the wish of Ulsan city and its people to benefit
from the new green energy generated from the
powerful wind from the sea.

  • Historic Story

    Silla dynasty, King Munmu
    Daewangam tale

  • Wind which benefits
    the citizen

    Renewable energy
    Environmentally friendly
    Job opportunities

  • Value Sharing

    Coexistence, Wish