Vestas signed a Memorandum of Understanding with A.P. Moller-Maersk, Jeonnam Province, and Mokpo City, on a plan towards a supply chain investment in Mokpo City in the Jeonnam Province, South Korea. The plan underlines Vestas' commitment to contributing to the development of an offshore wind energy industry in South Korea. Under the Memorandum Understanding (MoU), the parties will work together with the aim to establish a nacelle manufacturing plant and logistical base for offshore wind turbines at the Mokpo New Port Hinterland Complex.

The plan is dependent on the pace of a growing market and awarded volume for Vestas. The MoU outlines Vestas' intention to explore collaboration opportunities with local suppliers for offshore wind turbine components. In addition, Vestas and Maersk will aim to strengthen the local economy through hiring local talent and working with local companies, and Jeonnam Province and Mokpo City will provide administrative and financial support necessary to establish a sustainable supply chain.

The MoU follows Vestas' earlier announcement to explore establishing wind turbine manufacturing facilities in Korea together with CS Wind.