Ørsted Sees Huge Offshore Wind Potential in S Korea
government and companies.“South Korea is a peninsula surrounded by three seas,” said Park Jung-min, head of the Korean market development at Ørsted Asia Pacific. “We estimate that South Korea’s potential offshore wind power capacity can reach 30 GW.”According to Yonhap News Agency, the Danish state-run energy firm has recently completed the establishment of its Korean branch following South Korea’s announcement of a “Renewable Energy 3020 Plan,” which aims to raise the proportion of renewable energy supply to 20 percent of total power output by
S. Korea Invests to Increase Share in Offshore Plant Market
South Korea plans to develop the offshore plant industry into a new engine for growth that will create over 10,000 new jobs by 2017, reports Yonhap News citing a government source. The government plans to effectively implement its policy initiatives by jointly investing some 900 billion won ($848 million) with the private sector by 2017. The move comes as the global market for offshore plants is expected to grow by an average 6.4 percent per year from US$145.2 billion in 2010 to $230.3 billion in 2015 and to $503.9 billion in 2030, according to the Ministry of Trade, Industry and Energy, says Yonhap.
Daewoo Shipbuilding Receives African Drillship Order
to multiple sources, Daewoo Shipbuilding is on pace to surpass its 2013 turnover target of $13 billion. The company has received six drill ship orders so far this year in addition to orders for container ships and offshore plants, contributing roughly $11.26 billion toward its 2013 target. Sources: Yonhap News, Business Korea, staff
South Korean Navy to Build Nine 3,000-ton Subs by 2030
The South Korean Navy plans to build nine 3,000-ton submarines by 2030 to increase the length of its underwater operations and improve its precision strike capabilities, Yonhap News reported. Yonhap said it received the information from an anonymous military source who said the submarines were scheduled to be built between 2020 and 2030. Precise designs were allegedly started earlier this year. The new diesel-powered submarines will be equipped with vertical launchers that will dramatically improve the long-range precision strike capabilities of the Navy's submarine-to-surface missiles, according
February 2024
