Ørsted has announced that it signed a Memorandum of Understanding (MoU) with the Incheon Free Economic Zone Authority (IFEZA) to strengthen the cooperation on the green transformation and carbon neutrality of the Incheon Free Economic Zone (IFEZ).Under the MoU, Ørsted Korea and IFEZA agreed to explore key areas of collaboration, including Ørsted Korea’s 1.6GW Incheon offshore wind projects. The collaboration is set to include feasibility studies to supply renewable energy to companies in IFEZ and the surrounding areas, supply chain development of local industries in Incheon City and the surrounding areas, and job creation in IFEZ and the surrounding areas. In addition, the parties agreed to work together towards collaboration of the green transformation of IFEZ and the wider area in order to attract long-term international investments.