Amendment to the Special Act on the Promotion of Offshore Wind Power Deployment and the Development of Related Industries

This member's bill introduces a 'shared equity' mechanism allowing the state to acquire up to 20% equity stakes in offshore wind projects as a condition for developer selection, ensuring public benefit from government-provided resources such as site designation and permitting support. Revenue from shared equity would be managed under a separate dedicated law and benefit the public and local residents, while the bill also strengthens preferential treatment for public energy institutions by clarifying consideration of energy security and public interest in their support.

The current Act was enacted to foster offshore wind power generation businesses and as a comprehensive support measure for offshore wind power generation business entities, in recognition that offshore wind power generation is strategically important for a rapid transition to a renewable energy system.

The current Act provides for various support measures for offshore wind power generation business entities, such as the preparation of planned siting, convenience in authorizations and permits, technological, financial and tax benefits, and the reduction of 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