GS Entec, the offshore wind substructure unit of South Korean conglomerate GS Group, has agreed to supply key structural components for a major floating offshore wind project in waters east of Ulsan, marking a significant step in the company's push into the floating wind sector.

Agreement with Munmubaram

GS Entec announced that it signed a memorandum of understanding with Munmubaram, the Korean project company of Sweden's Hexicon, to supply mooring pile structures and cooperate on technology for the floating offshore wind farm.

The signing ceremony was attended by Swedish Ambassador to Korea Carl-Olof Andersson, Munmubaram CEO Joo Young-kyu, GS Entec Sales Division Head Lee Seung-yeop, and Ulsan Mayor Kim Sang-wook.

Under the terms of the agreement, GS Entec will cooperate on the fabrication of mooring piles, the exchange of technical information, and the establishment of a timely supply chain.

The company said the partnership represents a deliberate expansion of its business portfolio, moving beyond fixed-bottom monopiles into substructures designed for floating offshore wind installations.

Project Scale and Location

The Munmubaram project is a 750-megawatt floating offshore wind development that Hexicon is pursuing in waters approximately 65 to 80 kilometers east of Ulsan. The development plan calls for 50 floating units operating in water depths of 120 to 150 meters, taking advantage of strong wind conditions in the area.

Hexicon, the Swedish developer behind the project, has developed and operated 10 floating offshore wind projects across six countries, including the United Kingdom and Sweden, and has described its accumulated experience as central to its expertise in the sector.

GS Entec's Role and Local Industry Ambitions

GS Entec is headquartered in Ulsan, positioning it geographically close to the project site and giving it direct access to the city's established shipbuilding and offshore plant industrial base. The company said it intends to take a leading role in building what it described as a mutually beneficial local ecosystem by leveraging those existing industrial capabilities.

The company pointed to the broad range of equipment required for floating offshore wind as a source of opportunity for local businesses. Because such projects require components including floaters, mooring systems, and subsea cables, GS Entec said local companies could expect to gain more opportunities to participate in the business as a result of the project's development.

Floating Wind's Infrastructure Demands

Unlike fixed-bottom offshore wind installations, which anchor turbines to the seabed using structures such as monopiles in shallower waters, floating offshore wind systems are designed to operate in deeper waters where fixed foundations are not feasible.

The Munmubaram project's target water depths of 120 to 150 meters place it firmly in territory that requires floating technology.

Mooring pile structures, which GS Entec will fabricate under the agreement, are a critical component of floating wind systems, securing the floating platforms in position on the water's surface while allowing them to move with wave and wind conditions.

Strategic Significance for GS Entec

The agreement signals a deliberate broadening of GS Entec's product scope within the offshore wind market. The company has established itself as a supplier of fixed-bottom monopile substructures, which are used in conventional offshore wind projects in shallower waters.

By entering the floating wind supply chain, GS Entec is positioning itself to compete in a segment of the market that targets deeper offshore locations where South Korea's strongest wind resources are found.

The Ulsan region has been a focus of floating wind development interest in South Korea given the depth of its offshore waters and the wind conditions available. The Munmubaram project, at 750 megawatts across 50 units, represents one of the more substantial floating wind proposals in the country.

GS Entec's entry into this supply chain, anchored by the MOU with Munmubaram, gives it an early foothold in what the company clearly views as a growth segment, with the broader ambition of drawing additional local industry participants into the floating wind supply chain through Ulsan's existing industrial strengths in shipbuilding and offshore plant construction.

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