Hyundai Steel Industry has won a $450 million contract to manufacture and install substructures for an offshore wind farm in South Jeolla Province, according to local reports.
The company signed a deal with Hanwha Ocean valued at 611.5 billion won ($450 million), with work scheduled to run from this month through January 2029, said the reports.
The Shinan Ui offshore wind farm will deliver 390MW of capacity in waters southeast of Uido in Shinan County.
Hyundai Steel Industry stated that it will apply the “pre-piling” method for the first time in South Korea, involving installation of piles before placing the substructure.
The company added that the approach is expected to shorten construction schedules and improve installation accuracy.
It has built offshore wind experience since participating in the Tamra project in 2012, with additional work in Taiwan, Hallim on Jeju Island and Jaeun in South Jeolla Province.
Park Yong-seop, executive director and head of Hyundai Steel Industry’s offshore wind business division, said: “This Shinan Ui project will be an opportunity to elevate South Korea’s offshore wind construction technology to the next level.”