Canada Weighs Multi-Billion Dollar Korean Submarine Deal

Canadian Prime Minister Mark Carney toured the Hanwha Ocean shipyards in Geoje, South Korea, where the company is bidding to build Canada's next fleet of submarines. Hanwha Ocean, alongside partner Hyundai Heavy Industries, is competing against Germany's ThyssenKrupp Marine Systems, with a decision expected within the next year. Carney's visit included close inspection of the newly launched KSS-III (Batch 2) submarine, which prominently featured Canadian flags, signaling Hanwha's readiness to meet Canada's navy deadline to retire its Victoria-class submarines by 2035. The tour, accompanied by Canada's Defence Minister David McGuinty and Royal Canadian Navy Commander Vice-Admiral Angus Topshee, was seen as a sign the Canadian government might move swiftly toward a procurement decision. South Korean Prime Minister Kim Min-seok and President Lee Jae Myung also participated, underscoring South Korea's political support for the bid. The contract, potentially worth tens of billions, involves purchasing up to 12 conventionally powered submarines for Canada.