South Korea
Woori Bank is set to provide a combination of loans and fund investments totalling 400 billion won for an offshore wind power project in Gochang County, Jeonbuk Province.
The bank said that it had signed a Regional Industry Development Agreement (MOU) utilising productive financial support in Jeonbuk with the state government, Gochang County, the National Credit Union Federation of Korea, and Dongchon Wind Power.
The agreement was made to support the construction of the Gochang offshore wind project’s infrastructure and to revitalise the regional economy.
The project involves the construction and operation of a 76.2-megawatt (MW) offshore wind farm in public waters off the coast of Gochang County, Jeonbuk.
The electricity produced is expected to be supplied directly and indirectly to advanced strategic industries in Jeonbuk, including the Physical AI Valley, the robot manufacturing parts cluster, and the mobility cluster. This will contribute to the revitalisation of the region’s real economy.
