1.

Summary of Key Provisions
 

(1)

Requirements for Designation of Exploratory Areas and Power Generation Zones

The Subordinate Legislation sets out requirements for obtaining designation as an Exploratory Area (the first step in the process of receiving government designation as a “power generation zone,” wherein new OSW Projects may be developed (as described in the OSW Promotion Act, “Power Generation Zones”)). These requirements include:
 

(2)

Developer Selection Criteria

The Subordinate Legislation also provides that criteria for selecting OSW Project developers will include consideration of factors such as:
 

(3)

Public-Private Council

The Subordinate Legislation calls for the establishment of a public-private consultative body (the “Public-Private Council”) to discuss matters related to the designation of Power Generation Zones, local resident participation and profit-sharing and other issues necessary to secure stakeholder acceptance of OSW Project development. The Public-Private Council will be comprised of representatives from governmental, private and public interest sectors as further detailed in the Subordinate Legislation. Public-Private Council deliberation will be required for matters such as establishing a basic design plan, and the results of such deliberations must be announced within one year of commencement (extendable by no more than six months for unavoidable circumstances).
 

(4)

Streamlined Environmental Review Procedures
 
The fast-track permitting procedures introduced by the OSW Promotion Act allows simplified environmental evaluation reports (“Environmental Evaluation Reports”) to replace the full environmental impact assessments and sea area utilization impact assessments within Power Generation Zones. The Subordinate Legislation further explains related procedures by:
 

(5)

Deadline for Determining Necessity of Feasibility Studies
 
The OSW Promotion Act allows state-owned enterprises and quasi-governmental institutions (e.g., Korea Electric Power Corporation (“KEPCO”) and KEPCO’s six wholly-owned power generation subsidiaries (the “GenCos”)) to apply to Korea’s Ministry of Economy and Finance (the “MOEF”) for a waiver of the requirement to complete a preliminary feasibility study with respect to any OSW Project proposed for development within a Power Generation Zone.
 
The Subordinate Legislation specifies that when state-owned enterprises and quasi-governmental institutions (such as KEPCO or the GenCos) apply to MOEF for this waiver, the MOEF should issue notice of its determination whether or not to grant such waiver within 60 days of application, and hence facilitate expedited OSW Project development by such state-owned enterprises and quasi-governmental institutions.
 

2.

Implications

The Subordinate Legislation provides the first significant details on the OSW Promotion Act’s high-level promise to catalyze the growth of Korea’s offshore wind power generation sector, but grasping their full implications will require close monitoring of various governmental notices and announcements over the coming months.
 
Many of the more specific details surrounding the implementation of the OSW Promotion Act are expected to be provided by the MCEE in the form of separate public notices. These public notices will, for example, include key information such as the deadlines, selection criteria, and procedures for current OSW Project developers and their OSW Projects to be selected as an OSW Project under the OSW Promotion Act. A future MCEE public notice is also expected to detail evaluation criteria for the evaluation committee selecting OSW Project developers and the benefit-sharing plan for resident participation in OSW Projects.
 
For further information and to submit comments on the Subordinate Legislation (by January 19, 2026), please refer to the official governmental announcement of the Subordinate Legislation (available in Korean, Link).