Unison Resumes Trading After Share Consolidation, Targets KRW 1 Trillion in Revenue by 2030

Unison, a wind turbine specialist, has resumed trading on the KOSDAQ after completing a 5-for-1 share consolidation. The company aims to expand its business by securing offshore wind turbine supply contracts and developing onshore wind farms, with the goal of reaching KRW 1 trillion in revenue by 2030.

Unison announced on November 4 that it had completed the listing of its shares following the 5-for-1 consolidation and resumed trading in its common shares.

The share consolidation was carried out to stabilize the share price and enhance corporate value. By consolidating five common shares with a par value of KRW 500 each into one share with a par value of KRW 2,500, the total number of shares issued fell from 291,912,077 to 58,382,415. The reference price before the market opened on November 4 was KRW 5,220 per share.

Unison is expanding its supply of onshore and offshore wind turbines while developing and operating wind farms, with a target of generating more than KRW 1 trillion in revenue by 2030.

In offshore wind, the company plans to supply 25 turbines, each with a capacity of 13.6 MW, to Hanbit Offshore Wind (340 MW), which was selected in the government-led competitive bidding process in the first half of this year. In August, it signed a contract worth KRW 99.287 billion to supply 12 turbines, each with a capacity of 6.3 MW, to Gochang Offshore Wind (75.6 MW).

Onshore, Unison is pursuing a turbine supply deal for Yeongam Samho Wind Power (36 MW), led by Jeonnam Development Corporation. In Samcheok, Gangwon Province, it is directly developing the 31 MW Yukbaeksan Wind Farm. The company also sees repowering projects, which replace aging turbines with high-efficiency equipment, as a new growth opportunity. It estimates that 34 domestic onshore wind farms, with a combined capacity of about 450 MW, will reach 20 years of operation between 2026 and 2030, potentially creating demand for turbine replacement.

Unison is also working to expand production capacity to meet the growing offshore wind market. It plans to secure annual wind turbine production capacity of 1 GW. Gunsan is under consideration as a production hub for large-scale turbines, given that Gunsan Shipyard has space to manufacture large equipment and a port, and is close to wind project sites in the southwestern coastal region.

To this end, Unison signed a memorandum of understanding (MOU) with HJ Shipbuilding & Construction, J Ocean Heavy Industries, and Myeongun Industrial Development to establish an offshore wind cluster in Gunsan. The four companies will discuss ways to use the site and existing facilities.

Unison is also working to strengthen the domestic parts supply chain and establish a regional base. The company is participating as a wind power company in the clean energy sector in the government's Korean Green Transformation (K-GX) Signature Project. In line with the planned expansion of large offshore wind turbine production, it intends to deepen cooperation with domestic parts manufacturers and increase the number of locally sourced equipment items.

With Jeonbuk State, Gunsan City, and Kunsan National University, among others, Unison is working to expand research and maintenance infrastructure and train skilled workers. The company aims to establish a business model in which it supplies turbines to wind farms in the southwestern coastal region and provides maintenance services from Gunsan once they are operational.

A Unison official said, "This share consolidation was carried out to stabilize the share price. To achieve our target of KRW 1 trillion in revenue by 2030, we need to increase both the number of wind farms to which we supply turbines and the number of sites whose long-term operation we manage." The official added, "Building on the offshore wind supply track record we have established in Gochang and our onshore maintenance experience, we will turn turbine deliveries into long-term maintenance contracts."

This content was produced with the assistance of AI translation services.