According to Yonhap News Agency's report on November 22, during South Korean President Yoon Seok-yue's state visit to the UK, a number of the world's leading energy companies in the UK announced investment plans in South Korean offshore wind power development projects. This includes global energy companies BP Group and GIG Group.

During President Yoon Seok-yue's visit to the UK, the British business community invested 1.5 trillion won (approximately US$1.3 billion) in Korean offshore wind power projects. Among them, Corio, a subsidiary of GIG Group, has built 8 offshore wind power facilities in Busan, Ulsan and Jeollanam-do, South Korea, with a total installed capacity of 2.9GW. Corio plans to accelerate its business development in South Korea through this investment.

BP Group mainly plans to invest in offshore wind farms along the southern coast of South Korea. The company said that this investment is a major step in its new energy and renewable energy field in South Korea, and it plans to further expand its investment in this field in the future.

The Ministry of Trade, Industry and Energy of South Korea stated that this large-scale investment by the UK in South Korea shows that the cooperative relationship between South Korea and the UK is further strengthening, especially in the field of clean energy. This investment will bring huge development potential to South Korea’s offshore wind power industry and promote South Korea’s development in the field of clean energy.

In addition, South Korea’s Ministry of Industry, Trade and Energy also stated that South Korea is actively promoting the development of clean energy to achieve its carbon neutrality goal. This investment from British companies will provide important support for South Korea to achieve this goal.

The South Korean government stated that it will attract more foreign companies to invest in South Korea by formulating more open investment policies and providing a more stable regulatory environment. At the same time, South Korea will continue to strengthen cooperation with international partners in the field of clean energy to promote the global energy transformation. Editor/Xu Shengpeng