Korea Floating Wind (KF Wind) signed a Memorandum of Understanding (MOU) with the Ulju Fishery Association on March 26 in Ulju-gun, Ulsan, to promote dialogue and cooperation in conducting a fair and objective Fishery Impact Survey (FIS) in connection with the floating offshore wind project.

This agreement was established to facilitate the systematic implementation of the Fishery Impact Survey (FIS) and to build a foundation for communication with local fishing communities in relation to the approximately 1,125MW KF Wind floating offshore wind farm currently being developed off the coast of Ulsan. Through this cooperation, KF Wind plans to review potential impacts that may arise during the project development process in advance, based on trust with the local community, thereby supporting the stable advancement of the project.

The Ulju Fishery Association is a representative organization of local fisheries, consisting of approximately 830 members across 14 fishing village cooperatives. KF Wind will continue communication with fisheries through the Association and explore areas of cooperation. Both parties agreed to cooperate so that the FIS can be conducted in a fair and objective manner in accordance with applicable laws and regulations.

KF Wind plans to carry out the FIS for the project in accordance with relevant laws and regulations. The survey will cover licensed, permitted, and reported fisheries registered in Ulsan Metropolitan City as of the commencement date of the survey that are expected to be affected by the project.

The parties plan to establish compensation standards in accordance with applicable laws through an appraisal process, and discussions will be conducted based on the results of the FIS and appraisal.

Meanwhile, KF Wind has continued to explore mutually beneficial approaches so that offshore wind development and fisheries can move forward in harmony through ongoing communication with local fishing communities and other stakeholders. In January, KF Wind also signed a coexistence and cooperation MOU with the Ulsan Fisheries Cooperative to promote the harmonious coexistence of floating offshore wind development and local fisheries.