Woori Technology is
Promises to grow and develop as a comprehensive marine solution provider.
Business of Construction/Installation
Korea needs energy transition to respond to climate change and the development of offshore wind energy (renewable energy) is important with development potential due to the characteristics of the location of being surrounded by water on three sides to achieve ***RE3020 (renewable energy 3020).
Looking at overseas cases, as of 2017, renewable energy accounted for 26.5% (installation capacity of 2,195 GW) of the world’s final energy consumption and investments have been made intensively into wind and solar energy which have more competitiveness due to the drop of the unit price of the power generation.
Even in South Korea, the proportion of renewable energy is gradually increasing. The current Korean government has established "Supply of Clean and Safe Energy" as a medium- and long-term energy policy and is promoting the eco-friendly energy policy called RE3020.
    ***RE3020 (Government policy of increasing the percentage of generation from renewable energy to 20% by 2030)
  • Percentage of power generation 6.2% (2017) → 20% (2030)
  • Supply capacity 15.1 GW (2017) → 63.8 GW (2030)
  • To supply 48.7 GW of clean energy in center of wind power and solar power from new facilities
In particular, while the offshore wind power market is large, it has oligopoly structure. Therefore, if a domestic company secures its oown construction/design performance results, it is expected that it will be able to be positioned as a sustainable business as a new growth engine by entering the overseas market.
To rapidly respond to the change in government policies and participate more actively in the transformation of the global energy market, WOORI TECHNOLOGY Inc. has held the technology of constructing and installing the offshore wind enegy facilities through the takeover and merger (equity contribution) of CGO registered as Korea's only renewable energy and offshore wind power generation-specialized company.
Marine transportation business
To achieve the goal of increasing Korea’s renewable energy generation percentage to 20% [***RE3020: 12 GW, offshore wind power], it is necessary to develop a large-scale offshore floating wind power farm field to use the abundant wind resources in deep waters together with the existing fixed offshore wind power.
Unlike the fixed offshore wind turbine, an offshore floating wind turbine as the key technology for transportation and installation, because it is highly dependent on foreign countries and requires high costs for transportation and installation [LCoE: Levelized Cost of Energy], and it requires the leases of special equipment, etc. from foreign countries.
This inevitably leads considerable increase of the business expenses.
We have had core technology for the transportation and installation of offshore floating wind equipment and also have remodeled and operated a domestic ship exclusively used for optimal installation, thereby having acquired the verified maritime certification.
In addition, we are providing the optimal maritime transportation services at the reasonable service costs with reliability and stability.

Woori Technology Inc. will move forwards for continuous research and development to localize technology for transportation and installation of the offshore floating wind power systems and core equipment in order to create the GW-grade large-scale offshore floating wind power farm field.
Maintenance and repair business
A wind turbine is a system that generates electric energy by rotating the blades with the kinetic energy of the wind.
In particular, the wind power generation system that is installed in the ocean requires a lot of maintenance costs with the ripple effects due to failure of various parts and components.

It is necessary to determine fixed maintenance, preventive maintenance, and condition-based maintenance for more efficient and economically efficient maintenance.
Furthermore, the offshore wind power plant is restricted to be approached and it is not easy to be replaced or repaired upon any fault compared to the onland wind power plant.
Therefore, the expertise on retaining and operating various kinds of equipment for maintenance is essential because they need special cares.
Woori Technology Inc. has great technologies and know-how required for replacement or repair caused by a fault, including the manufacture of the condition monitoring system (CMS), the monitor, and the blades, and the security of reliability, mechanical stability of mid-size or large-size wind power generators, reliability of the wind generating gearbox, to prevent mechanical failure of offshore wind power generation in advance and to improve operation rates.
Advisory/consulting services
WOORI TECHNOLOGY Inc. is focusing on technology transfer and localization of technology through various exchanges and partnerships with European offshore wind power system installing companies in order to strengthen the offshore wind power business sector that will be the future growth engine and actively conducts various research and construction projects.
Our Ocean Engineering Research Institute has successfully completed the projects for the review of cultivating the hub ports for offshore wind power industry and the research projects for the development of the optimal leg shape and jack-up systems for the ship specializing in installing offshore wind turbines.
It also performed the projects of developing core technologies for installation and designing floatovers and multiple cranes in the offshore plants.
Now, we are promoting the research project selected as the national project for the development of core technologies in relation to transportation and installation to demonstrate the offshore floating wind power turbines.

In addition, we have successfully completed the first commercial wind power turbine and substructure installation work in South Korea by winning an order for the jacket and wind power turbine installation work (30 MW) in the construction of Tamra Offshore Wind Power Farm Field and also we participated in the Daejeong Offshore Wind Power Farm Project (100 MW).
As such, we are participating in various projects related to construction/installation of domestic offshore wind power and in relation to the offshore industry field.
Based on our technical network with advanced overseas maritime industry companies, we have accumulted core technologies necessary for the construction of offshore wind power turbines with personal, physical and technical exchanges with relevant companies for years.
In particular, we are providing a total solution through maritime advisory and consulting services including designing, purchase, transportation, installation and pilot operation of maritime equipment including offshore structures, submarine cables, and submarine pipelines.
  • Consulting on construction of wind power turbines
  • Analysis and production of basic structure design
  • Construction of jacket and wind generator
  • Installation and layering of power cables for underwater communication and installation of protections
  • Equipment transportation management
  • Facility maintenance
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