2nd Korean-German Business Forum on Offshore Wind Energy

(Seoul, September 8, 2023) The Korean-German Chamber of Commerce and Industry (KGCCI, President & CEO Martin Henkelmann) in cooperation with German Embassy Seoul and the Korean-German Energy Partnership, supported by RWE, Baywa r.e., and TÜV SÜD, held the 2^nd Korean-German Business Forum on Offshore Wind Energy on September 8 at Four Seasons Hotel, Seoul, South Korea.

The forum, launched last year, aims to foster deeper business exchange and collaboration between Korea and Germany in offshore wind energy sector, recognized as a pivotal force in shaping the future of sustainable energy.

Under the theme of “Role of Offshore Wind to Net Zero 2050,” the event attracted more than 160 key officials, industry leaders, and stakeholders from Korean-German energy sector. Notable speakers included Jörn Beissert, Deputy Head of Mission at German Embassy, Dr. Martin Henkelmann, President & CEO of KGCCI, Yeonwoo Choi, Director General for Renewable Energy Policy Bureau at the Ministry of Trade, Industry and Energy (MOTIE), MP Sungwon Kim, Executive Secretary of the Trade, Industry, Energy, SMEs and Startups Committee of the National Assembly, David Jones, Country Manager of RWE Renewables Korea, Yun-seop Keum, Head of Wind Projects South Korea, Baywa r.e. Korea and Anton Hufnagl, Deputy Director for Bilateral Cooperation on Climate and Energy at the German Federal Ministry for Economic Affairs and Climate Action (BMWK).

MP Sungwon Kim, in his video congratulatory message, emphasized “Korea and Germany share the common vision for a technological innovation and sustainable energy transition.” He understored offshore wind energy’s important role in realizing this vision and ensuring a stable energy supply.

The forum was divided into three sessions: △Offshore Wind Auction Design △How to Ramp-up Supply Chain to Support Offshore Wind at Scale △Optimization of Grid for Offshore Wind Deployment. Panelists from RWE Renewables Korea, Baywa r.e. Korea, Korea Energy Economics Institute (KEEI), Korea Wind Energy Industry Association (KWEIA), and Bureau of Regulatory Innovation and Reform at Office for Government Policy Coordination, Siemens Energy Korea, TÜV SÜD Korea Ltd., SK Oceanplant, and Doosan Enerbility, Korea Electric Power Corporation (KEPCO) shared their expertise.

Anton Hufnagl, Deputy Head of Division at the German Federal Ministry for Economic Affairs and Climate Action (BMWK) provided insights into the status and experiences of offshore wind auction design in Germany. “The expansion of offshore wind energy holds great potential for both Germany and Korea to achieve their climate goals,” Hufnagl said. Also, he highlighted “Aiming to realize this potential, the German government introduced a centralized auction model to streamline the process for developing and commissioning offshore wind parks as well as the planning and installation of the necessary grid connections.”

Professor Hee-jip Kim from Seoul National University, who moderated a panel discussion, emphasized, “Offshore wind industry is an industry where a direct investment in Korea from overseas worth more than 60 trillion won is expected.” He also urged, “We must never miss the offshore wind market that is growing significantly worldwide. The government, companies, and citizens should all strive to foster the offshore wind industry in Korea and make it prosper.”  

These remarks resonated with KGCCI’s recommendations regarding the proposed Special Bills on Offshore Wind from both the People’s Power Party (Bill Number: 2120014) and the Democratic Party (Bill Number: 2120023). Some of the key aspects outlined in the position paper include centrally planned offshore wind zones and auctions for developer selection, ensuring certainty regarding grid connection availability for project investment and bankability.

Jihee Jeong, Chair of the Secretariat of Korean-German Energy Partnership in Korea expressed optimism, stating, “The Korean-German Business Forum on Offshore Wind energy has been successfully established since 2022 thanks to the strong enthusiasm and interest from both countries and the companies. I also hope that this platform will support the fast and adequate enacting of the Special Bills on offshore wind energy that will foster the offshore wind power development in Korea.”