MunmuBaram Signs MOU with Korea East-West Power for Joint Development of MunmuBaram Project

(March 19, 2026) MunmuBaram Co., Ltd. has entered into a Memorandum of Understanding (MOU) with Korea East-West Power Co., Ltd. (EWP) for the joint development of the MunmuBaram floating offshore wind project off the coast of Ulsan. 

This partnership represents a powerful synergy between a leading domestic energy public enterprise and a global developer, aimed at delivering a world-class floating offshore wind farm. By integrating EWP’s domestic energy infrastructure with MunmuBaram’s specialized technical capabilities, the collaboration will contribute to the national objective of fostering a sustainable offshore wind ecosystem. 

Under this strategic framework, both entities will explore multifaceted cooperation across the entire project lifecycle—spanning development and construction to operation and maintenance (O&M). Guided by the principle of good faith, MunmuBaram and EWP are committed to the exchange of information and technology, committing to a long-term partnership built on mutual trust.

"Our close collaboration with Korea East-West Power is a pivotal milestone that will significantly enhance the project’s execution," said Youngkyu Ju, President of MunmuBaram. "We remain dedicated to working with key domestic and international partners to spearhead the energy transition and foster a sustainable offshore wind ecosystem."