Vestas and KOTRA collaborate to host 'Vestas Supplier Day' event in Seoul, South Korea; engage with suppliers to strengthen future wind supply chain

SINGAPORE,March 15,2023 -- Earlier in the year,Vestas communicated its intention to become a key investor in establishing and maturing the offshore wind supply chain in South Korea. Following up on this,Vestas,today,in close collaboration with Korea Trade-Investment Promotion Agency (KOTRA) organized a 'Vestas Supplier Day' event in Seoul,South Korea.

The objective behind this event was to have an up close and personal interaction with our existing and potential suppliers,convey to them our intentions,understand their needs,and all in all,lay the foundation for establishing an effective and sustainable industrial supply chain for offshore wind in the country. The offshore wind sector in South Korea is set to flourish and Vestas aims to be an important partner in this journey by establishing a local supply chain that can help deliver this transition at the scale and pace needed.

As part of the agenda for the day,meaningful discussions were held around South Korea's Marine wind industry promotion policy and related R&D support projects,Vestas' outlook for Korea,the foreseeable challenges,and opportunities that the country has to offer. Many senior members of the Vestas leadership team including Tommy Rahbek Nielsen (EVP and COO,Vestas) and senior officials and representatives from the South Korean government,Danish Embassy in Korea,Ministry of Trade,Industry and Energy (MOTIE),KOTRA,Korea Energy Agency (KEA),Korea Trade Investment Promotion Agency (KETEP) participated in the event.

"SouthKorea is a very important market for us and we believe that the key to success lies not only within Vestas but also very much with our partners in the supply chain,which is where it becomes imperative to host events like this and spend time together with our future partners.",says Michael Roy Balvers,COO,Vestas APAC

"South Korea is set to transform their energy system from one that is dominated by a dwindling supply of fossil fuels,to one that is empowered by non-depletable renewables. Offshore wind is leading the way towards this vision,enhancing energy security and reducing carbon emissions by providing affordable energy on a large scale. We are looking forward to working with government to shape an optimal market framework for making these ambitions,actionable for our customers and supply chain participants",says Fredrik Andrén-Sandberg,Head of Public Affairs,Vestas APAC

About Vestas

Vestas is the energy industry's global partner on sustainable energy solutions. We design,manufacture,install,and service onshore and offshore wind turbines across the globe,and with more than 164 GW of wind turbines in 87 countries,we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 144 GW of wind turbines under service,we use data to interpret,forecast,and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers,Vestas' more than 28,000 employees are bringing the world sustainable energy solutions to power a bright future.

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