Esvagt has entered a joint venture with Korean shipping company KMC Line to support the development of South Korea's offshore wind sector. The country has plans to install up to 18.3 GW of offshore wind capacity by 2030.
The new joint venture, named Kesto, was formalised during a signing ceremony in Seoul. Kesto is already in active discussions with potential partners for offshore wind projects expected to begin construction from 2027.