Act on Benefit-Sharing from Shared Equity Stakes in Offshore Wind Power

This member's bill establishes a framework for distributing profits from public equity stakes in offshore wind projects. Under the related Offshore Wind Promotion and Industry Development Special Act (effective March 2026), the state can acquire up to 20% equity stakes in offshore wind projects as a condition of project participation; this bill regulates how profits from those public equity stakes are shared with the public, designating Korean nationals, local residents, and foreign permanent residents as beneficiaries, with 70% of equity-based profits distributed to the public and 30% to the local offshore wind development area.

The Special Act on the Promotion of Offshore Wind Power Deployment and the Development of Related Industries, which provides for systematic support measures for offshore wind power generation businesses and electricity generation business entities in recognition that offshore wind power generation is strategically important to the nation in the transition to a renewable energy system, entered into force in March 2026.

The Special Act on the Promotion of Offshore Wind Power Deployment and the Development of Related Industries provides for support measures at various levels for offshore wind power generation business entities, such as the provision of planned siting, convenience in authorizations and permits, technological, financial and tax benefits, and preferential treatment regarding occupancy or use fees for public waters.

The first paragraphs of the bill's own statement, in KWI's English translation. The full statement and bill text are in the English translation PDF.

1. Received
2. In review
3. Enacted