SeAH Steel is going to open a new era of offshore wind power generation.
SeAH Steel announced on March 4 that it will issue 80 billion won ($72 million) in corporate bonds through the Financial Supervisory Service's electronic disclosure system.
With the issuance of corporate bonds, the company will set up production bases for offshore wind power generation facilities in Korea and the U.K.
SeAH Steel is going to invest 80 billion won to build a production plant for offshore wind infrastructure. Once the plant is completed, 72,000 tons of offshore wind infrastructure is expected to be produced annually. The company is also building a 160,000 tons of production plant in the U.K.
The company has decided on a new offshore wind power plant as its new business as its main business, the steel pipe performance, has been sluggish due to poor domestic demand and stricter export regulations.
Meanwhile, according to industries, offshore wind power generation is expected to increase demand globally as it is possible to have zero carbon emissions and produce electricity stably.
