GS Entec, the offshore wind substructure unit of GS Group (078930.KS), signed a memorandum of understanding with Munmubaram, the Korean project company of Sweden’s Hexicon, to supply mooring pile structures and cooperate on technology for the Munmubaram floating offshore wind project. The 750-megawatt development is planned for waters 65 to 80 kilometers east of Ulsan, with 50 floating units installed at depths of 120 to 150 meters. Under the agreement, headquartered-in-Ulsan GS Entec will work on mooring-pile fabrication, technical-information exchanges and a timely supply chain. The company aims to expand beyond fixed-bottom monopiles into floating offshore wind substructures and support a local industrial ecosystem drawing on Ulsan’s shipbuilding and offshore-plant base. Hexicon has developed and operated 10 floating offshore wind projects in six countries, including the U.K. and Sweden. The project’s need for floaters, mooring systems and subsea cables is expected to create additional opportunities for local companies.