Fugro UST21 joint venture opens office in South Korea in support of growing offshore renewable energy sector

February 20, 2024

Fugro has opened a new office called “Fugro UST21” in Incheon, South Korea, as part of a joint venture with UST21, a South Korean marine technology company. This new office will provide Geo-data solutions for South Korea’s growing offshore renewable energy sector, which Fugro has been actively supporting in collaboration with UST21 since 2019 via a Memorandum of Understanding. The creation of Fugro UST21 establishes Fugro’s first permanent presence in the country.

Jerry Paisley, Fugro’s Regional Sales Director for APAC, stated: “We’ve already been working closely with UST21 for several years but this new office allows us to better support our valued South Korean clients and meet their growing offshore needs as part of the green energy transition. South Korea is the world’s eighth largest power consumer, while the offshore windfarm market predicts around 14 GW of fixed-bottom and floating wind projects to come online by 2030, so our new office is perfectly timed to capture these opportunities and unlock Geo-data insights for South Korea’s offshore windfarm developments.”

Jongwook Kim, UST21’s CEO, stated: ”We established UST21 in 1999, having recognised the importance of marine surveys for offshore construction around the South Korean peninsula. Opening the Fugro UST21 office combines our ocean data experience of over 20 years with Fugro’s advanced technology to offer unparalleled Geo-data solutions to help build and maintain South Korea’s future offshore windfarms, while also contributing to the blue economy.”