On May 28, the company announced that executives from both HD Hyundai Heavy Industries and Davie Shipyard met on May 26 at Davie's Ottawa office to discuss strengthening strategic cooperation across shipbuilding and naval operations.
The meeting included Park Yong-yeol, head of HD Hyundai Heavy Industries' naval business division, and James Davies, CEO of Davie Shipyard. During the discussions, HD Hyundai Heavy Industries highlighted its status as the world's leading shipbuilder and showcased the excellence of its K-Submarine technology. They exchanged in-depth opinions on potential collaboration to contribute to the development of Canada's shipbuilding industry.
Davie Shipyard, located in Quebec, is Canada's largest shipyard, established in the early 19th century, with a track record of building various types of vessels, including icebreakers, offshore plants, and military support ships.
Davie also owns a subsidiary in Helsinki, Finland, which is expected to enhance the partnership between HD Hyundai Heavy Industries and Davie Shipyard, combining HD Hyundai's technological expertise with Davie's local infrastructure to develop a long-term strategic partnership that spans the Arctic market.
Additionally, on May 23, HD Hyundai Heavy Industries President Joo Won-ho, along with other executives, participated in the welcoming ceremony for the entry of the Dosan Ahn Chang-ho submarine at the Esquimalt naval base in British Columbia, Canada, and attended a reception hosted by the South Korean ambassador to Canada, further supporting their bid for the contract.
Notably, HD Hyundai Heavy Industries is enhancing its competitiveness by proposing offset trade initiatives that include not only the export of naval vessels but also the expansion of imports of Canadian crude oil, technology transfer, and collaboration with the local shipbuilding industry.
This move is seen as an effort to strengthen the solid partnership between the two countries ahead of the expected decision in June regarding the selection of a contractor for the Canadian Patrol Submarine Project (CPSP), which is valued at up to 60 trillion won. HD Hyundai Heavy Industries is participating in the CPSP project as part of a 'one team' effort with Hanwha Ocean.
Joo Won-ho stated, "We are committed to sharing capabilities and expanding business areas with leading Canadian shipyards like Davie and Irving. We will do our utmost to secure the Canadian submarine project as part of the K-defense one team."
* This article has been translated by AI.
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