It will receive $8.8b worth of investments for its development.
South Korean president Moon Jae-in said the country plans to build a 4GW solar and offshore wind complex in the Saemangeum area.
The complex will receive investments worth $8.8b for its development. Renewables Now reported that the plan involves adding 1 GW of offshore wind and 3 GW of solar power capacity.
Production is slated to start in 2022 and add manufacturers and research institutes.
The project is in line with South Korea's Renewable Energy 3020 implementation plan with an aim to increase the percentage of power generation from renewable resources to 20% by 2030.
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