The announcement comes as Samsung Heavy, the world’s second largest ship-maker, faces a slump in global demand for new shipping vessels. The technology to make the key component for wind turbines is similar to the one used to make ship propellers.
Making 500 turbines a year would contribute 3 trillion won ($2.4bn) to Samsung Heavy’s bottom line. The company says it may eventually raise production to as many as 1,600 turbines a year as it looks to expand into booming wind markets such as China and India.
Seoul-based
