Korea Floating Wind (KF Wind) signed a service agreement on August 28 with MarineCom and the PSJ Consortium to conduct a fishery impact assessment prior to the development of its floating offshore wind project off the coast of Ulsan.

The two institutions selected by KF Wind for this agreement have extensive experience in engaging with local stakeholders in Ulsan, based on long-standing relationships of trust with coastal and offshore fishing communities in the region. From the design of the survey to the collection of stakeholder feedback, both organizations are expected to contribute to developing a fair compensation plan and mutually beneficial community model, based on both qualitative and quantitative data regarding changes in fishery activities.

In particular, MarineCom has a strong track record and expertise in areas such as marine spatial planning consultation, marine environmental impact assessments, fishery-related impact studies, and academic research services. Leveraging its highly reliable research capabilities, the organization has actively supported numerous government, municipal, and private-sector projects.

Through this study, KF Wind aims to thoroughly assess fishery activities that may be directly or indirectly affected during the implementation of the floating offshore wind project. The company will identify stakeholders and develop a reasonable compensation framework accordingly. In parallel, KF Wind will pursue inclusive community engagement initiatives to strengthen local trust and acceptance of the project.

Austin Park, Project Director at KF Wind, stated, “KF Wind is committed to laying a solid foundation for regional economic revitalization through renewable energy development, while also working closely with the fishing communities and key local stakeholders in Ulsan to support a sustainable future for all.”

KF Wind is currently developing a 1.125 MW floating offshore wind farm approximately 80 kilometers off the coast of Ulsan, working in close collaboration with local communities and stakeholders.