About Ulsan

What makes Ulsan the future hub of renewable energy?

Located on the southeastern coast of South Korea, Ulsan benefits from both its strategic geographical position and its well-established industrial base. Ulsan creates an ideal location for floating offshore wind energy, from energy production to supply.

Ulsan’s development as a floating offshore wind hub is a clear example of how cities can leverage their natural resources and industrial strengths on their way to becoming global leaders in the floating offshore wind sector.

Exceptional Natural Conditions

Ulsan provides strong winds with an average wind speed of 8.0–9.0 m/s and extensive continental shelf with water depths of 100–200m. The natural environment offers the ideal conditions for floating wind farms, which are better suited for deeper ocean environments compared to traditional offshore wind turbines.
The city’s proximity to existing port facilities and shipbuilding industries further enhances its potential as a hub for manufacturing, installation, and maintenance of offshore wind technology.

Well-established Grid Infrastructure

Ulsan is already equipped with large-scale substations and transmission facilities that are important for connecting renewable energy sources to the national power grid.
By having well-established energy transmission capabilities, the electricity generated by floating offshore wind farms can be channeled into the broader electrical system. The city’s proximity to nuclear and thermal power plants provides an additional advantage of seamless integration with existing power generation sources.
The capability to combine wind-generated power with more stable, traditional power sources allows Ulsan to optimize energy production and reduce the risk of supply disruptions. This is especially critical as South Korea seeks to diversify its energy mix and reduce its reliance on fossil fuels while maintaining a reliable and resilient energy grid.

High Electricity Demand Centers

Ulsan is home to major industrial complexes, including petrochemical, shipbuilding, and manufacturing sectors. This feature contrasts with cities like Seoul and Incheon, where the demand for electricity is driven primarily by residential and commercial use. In Ulsan, the energy needs are largely industry-driven.
The industrial nature of Ulsan’s energy consumption offers a significant advantage for the development of floating offshore wind energy. Major companies located in Ulsan are now focusing on sustainability. The shift toward sustainability increased the demand for renewable energy and makes it a highly viable option to meet the increasing demand.

MunmuBaram

A member of the Ulsan Floating Offshore Wind Association

The Ulsan Floating Offshore Wind Association is a group of floating offshore wind developers that aim to build large-scale power generation off the coast of Ulsan. Together, the developers are expected to generate about 6 GW of renewable energy by 2030.

In terms of installed capacity, this is equivalent to five or six nuclear power plants. Based on a generation efficiency of 45%, the 6GW offshore wind farm is expected to produce approximately 23,653GWh of electricity annually, which is enough to power all 5.4 million households in the Yeongnam region.
The Ulsan Floating Offshore Wind Farm Project is expected to reduce carbon dioxide emissions by 10.46 million tons per year, which is equivalent to planting approximately 1.9038 billion trees. Through the Ulsan Floating Offshore Wind Power Project, half of the government’s 14.8GW offshore wind installation target by 2030 could be achieved. Over the entire period of the floating offshore wind project, from 2019 to 2059, the domestic production inducement effect is KRW 65,247.5 billion, the value-added inducement effect is KRW 27,601.9 billion, and the employment Inducement effect is 272,811 people.