South Korea: Corio signs fisheries agreement for Dadaepo project
Corio Generation has signed a cooperation agreement with South Korea’s National Federation of Fisheries Cooperatives (Suhyup) and Western Busan Fisheries Committee (WBFC) in relation to the Dadaepo offshore wind power project in development in Saha-gu, Busan, South Korea.
With this agreement, a comprehensive mutual cooperation plan will be developed to ensure transparency and fairness with local fisheries, one of the key stakeholders in the development of the 96 MW fixed-bottom offshore wind project.
This marks a significant milestone for the project, as WBFC, an organisation of 17 fisheries associated with the Saha region, and Suhyup represent all fisheries in the Dadaepo offshore wind project region. The agreement supports coexistence throughout all phases of development, construction, and operation, including the establishment of a mutual cooperation fund and the sharing of project profits through resident participatory programmes.
The Cooperation Agreement signing ceremony was held at the Suhyup office on December 30, 2024. The Representative of Suhyup, Seong-tae Oh, the Chairman of WBFC, Young-geon Oh, and Corio’s Development Director, Dong-jin Lee attended the ceremony.
(From left) Chairman of WBFC, Young-geon Oh, the representative of Suhyup, Seong-tae Oh, and Development Director of Corio Generation, Dong-jin Lee at the Dadaepo Offshore Wind Power Cooperative Agreement signing ceremony.
Commenting on the agreement, Don-jin Lee, Development Director for Corio Generation, said: “This agreement highlights the strong partnership between Corio and the fisheries community in Busan. By working together, we can achieve sustainable development that benefits both the local economy and the environment, while also contributing to South Korea’s clean energy transition.”
Seong-tae Oh, representative of Suhyup, added: “Ensuring that fisheries’ opinions are actively reflected in the development of offshore wind power projects is the top priority of Suhyup. We will continue to communicate so that we can contribute to achieving the government’s carbon neutrality goal and find the optimal cooperative plan for marine environment preservation and regional development for the future generation.”
In the coming months, Corio plans to establish a regional council comprising fisheries, local residents, local governments, and offshore wind power experts in accordance with the “Offshore Wind Power Development Guidelines with Residents and Fisheries” (Guidelines) issued by the Ministry of Trade, Industry and Energy and the Korea Ocean Research and Development Institute. This will facilitate discussions on how to reflect various opinions in the key decision-making process.
The Dadaepo offshore wind power project is currently finalising key permit procedures, with the goal of starting construction in early 2026.
About the Busan Portfolio
Corio’s Busan portfolio comprises a series of near-shore fixed-bottom offshore wind projects capable of being deployed by 2030.
The portfolio aims to supply clean energy to Busan Metropolitan City, a market with high electricity demand and a strong grid capacity.
Visit our South Korea webpage: https://www.coriogeneration.com/southkorea