Korea has set a target of installing 12 GW offshore wind capacity by 2030. In September 2020, Korean President Moon Jae-in further announced the Green New Deal which targets net-zero emissions by 2050. Matthias Bausenwein, President of Ørsted Asia-Pacific, said: “With the Danish state as our majority owner, Ørsted is committed to working with local partners and suppliers across the value chain to build a vibrant Korean offshore wind industry through our 1.6 GW Incheon projects and potential more buildouts in other regions of the country. In addition to greening the electricity mix, offshore wind can become the feedstock for renewable hydrogen which can help decarbonising sectors that cannot be directly electrified such as transport and heavy industry.”