Already a Global Leader in Exports—So Why Is Korea’s Offshore Wind Market Moving So Slowly at Home?

When you break down the offshore wind value chain, the presence of Korean companies is far more pronounced than many assume. In towers, CS Wind is not just a global top-tier player but a company holding roughly 15% market share. In substructures, SK oceanplant ranks No. 1 in Asia for jackets. On top of that, there are component makers already proving themselves within the global supply chain, such as Taewoong in large forgings and CS Bearing in pitch and yaw bearings. The real competitive edge of Korea’s offshore wind industry still leans more heavily toward areas that have been proven first in overseas markets rather than in Korean waters.

The problem is that this strength does not necessarily line up with the reality of domestic projects. The global offshore wind boom and the government’s 2030 targets are expanding the market, but in Korea, ordering activity remains sluggish because of permitting, local acceptance, and economic viability disputes. That is why export-driven segments such as towers, substructures, and components are relatively resilient, while turbines and construction, which depend more on domestic demand, have seen much greater volatility. It is the same offshore wind value chain, so why does the temperature feel so different across segments? The answer lies in where the industry has actually built its track record.

Turbines & Towers — The Structures That Capture the Wind (4 companies)

The turbine and tower segment shows one of the most striking contrasts in Korea’s offshore wind industry. CS Wind is the global No. 1 in wind towers, with roughly 15% market share, backed by production bases in the U.S., Vietnam, Portugal, and elsewhere. Dongkuk S&C also manufactures onshore and offshore wind towers, supplying Vestas, Siemens Gamesa, and GE. Towers are already an area where Korean companies compete successfully in the global market, but turbines remain a field where localization is still very much a work in progress.

The symbolic names on the turbine side are Doosan Enerbility and Unison. Doosan Enerbility has moved to localize large 8MW-class offshore wind turbines, with domestic sourcing for parts at around 70%, and is also pushing toward 10MW. Unison manufactures 2–4MW-class wind turbines in Korea and is one of only two domestic turbine makers, while also pursuing a 10MW-class model. But to be blunt, the companies still effectively setting the global standard are Vestas, Siemens Gamesa, and GE. That does not mean the push for Korean-made turbines is meaningless; it simply means the sector is not yet at the point where it can be called a global powerhouse the way towers already can.

Company	Core focus
CS Wind	Global No. 1 in wind towers (~15%) — global production in the U.S., Vietnam, Portugal, etc.
Dongkuk S&C	Onshore and offshore wind towers — supplies Vestas, Siemens Gamesa, and GE (Dongkuk Group)
Doosan Enerbility	Large offshore wind turbines (8MW class) localized — domestic parts sourcing ~70%, expanding to 10MW
Unison	Domestic manufacturing of wind turbines (2–4MW class) — one of only two domestic turbine makers (pursuing 10MW class)

Substructures · Components · Construction — Building and Connecting at Sea (4 companies)

If anything, the substructures, components, and construction segment is where Korean companies’ strengths stand out even more clearly. SK oceanplant has a major presence in offshore wind substructures—especially jackets and heavy-wall steel pipes—and ranks No. 1 in Asia in jackets. The capabilities it built up back in its former Samkang M&T days are what underpin its current position. Taewoong holds a 25–30% global market share in large wind power forgings such as main shafts and tower flanges, with wind accounting for roughly 54% of revenue. When it comes to the structures planted in the sea and the core components that go into them, Korean companies are already deeply embedded in the global supply chain.

CS Bearing also deserves mention. It specializes in wind pitch and yaw bearings, with most of its revenue coming from wind, and as a CS Wind affiliate it supplies GE and Vestas. LS Marine Solution, by contrast, occupies an important niche in offshore wind submarine cable installation and maintenance, but this is also an area that is especially vulnerable to delays in domestic projects. Submarine cable installation only moves when projects are actually being laid in the water. Even within the same value chain, some players can hold up on overseas orders, while others can be shaken by a single domestic schedule slip.

Company	Core focus
SK oceanplant	Offshore wind substructures (jackets) · heavy-wall steel pipes — No. 1 in Asia (formerly Samkang M&T)
Taewoong	Large wind power forgings (main shafts · tower flanges) — 25–30% global market share (wind revenue ~54%)
CS Bearing	Specialist in wind pitch · yaw bearings (most revenue from wind) — CS Wind affiliate, supplies GE · Vestas
LS Marine Solution	Offshore wind submarine cable installation · maintenance — LS Group affiliate (project delay risk)

What to Watch Going Forward

The growth engine that can expand this market is clearly in place. The global offshore wind market will keep growing, and the government’s 2030 targets are still anchoring industry expectations. In that environment, companies like CS Wind, SK Oceanplant, Taewoong, and CS Bearing—which have already proven themselves through exports and global customer bases—hold the early advantage. Even if the domestic market moves slowly, they can still find a breakthrough overseas. If you had to pick the hidden heavyweights in Korea’s offshore wind value chain, these export-driven players are the first place to look.

That said, the real game in Korea’s offshore wind market has not fully opened yet. If permitting delays, local acceptance issues, and disputes over project economics continue, turbine makers and construction players relying on domestic demand will inevitably remain under pressure. Doosan Enerbility and Unison’s push for homegrown turbines is clearly necessary, but in the global competitive landscape they are still at a visible disadvantage. Areas like LS Marine Solution, where earnings visibility depends heavily on whether projects actually move forward, also carry significant risk. To see the true face of Korea’s offshore wind industry today, you have to look at both sides at once: the resilience of export leaders and the reality of domestic delays.

※ This article organizes company names, core businesses, and market positions based on publicly available materials verified online, and some assessments reflect the author’s own views. It is not a direct basis for investment decisions.

Written: July 2026. EAlexandro