According to industry sources on May 31, Hanwha is ramping up its efforts to secure the CPSP contract, having successfully concluded Canada’s largest defense exhibition, CANSEC 2026. Hanwha Ocean emphasized its submarine capabilities and contributions to the Canadian economy at the exhibition, where Admiral Kim Kyung-ryul and Defense Acquisition Program Administration Chief Lee Yong-cheol visited the Hanwha booth to engage with Canadian political and industrial figures in support of the bid.
Ministers from Ontario and Nova Scotia, as well as representatives from major Canadian defense and shipbuilding firms like Seaspan, Irving Shipbuilding, and Babcock, also visited the Hanwha booth to discuss collaboration opportunities. On May 21, Hanwha signed a memorandum of understanding with Canadian aerospace company Reaction Dynamics to explore strategic investments aimed at enhancing Canada’s launch capabilities.
Industry analysts note that under Kim Dong-kwan’s leadership, Hanwha is consolidating all its resources to secure the CPSP contract.
At the heart of the bid is Hanwha Ocean’s long-established submarine technology. The company is showcasing its capabilities with the Changbogo-III class submarine, a 3,000-ton South Korean model. When the lead ship of this class, the Dosan Ahn Chang-ho, docked at Esquimalt Naval Base in British Columbia on May 24, Canadian naval officials were able to directly assess its long-range operational capabilities and operational stability.
The Canadian government views the rapid delivery of next-generation submarines as a key element to prevent capability gaps, and Hanwha Ocean’s adherence to delivery timelines, a strength of the K-Shipbuilding initiative, is emerging as a core competitive advantage. Hanwha Ocean has proposed delivering four submarines to Canada by 2035.
However, analysts suggest that securing the contract will not be easy, as rival German firm TKMS is leveraging its NATO interoperability and experience in European defense collaboration.
In response, Hanwha has launched a group-wide package strategy as a decisive move. The Hanwha Group has submitted plans to the Canadian government to maintain and operate submarines within Canada while expanding collaboration into ground weapons and defense electronics. Hanwha Ocean will handle submarine construction and MRO, while Hanwha Aerospace aims to establish a joint venture in Canada to set up local production for military vehicles and other ground weapons. Hanwha Systems plans to enhance cooperation in satellite communications, AI, and surveillance technologies in the defense electronics sector.
A Hanwha Ocean representative stated, "We are committed to becoming a trusted long-term partner for Canada through local investment, industrial collaboration, workforce development, and ongoing economic contributions that support Canada’s 'Buy Canadian' policy."
* This article has been translated by AI.
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