Canadian Defense Minister Visits Hanwha Ocean for Submarine Project Assessment
SEOUL, Feb. 2 (Yonhap) — Stephen Fuhr, Canada’s Minister responsible for defense procurement, visited Hanwha Ocean Co.’s shipyard in Geoje, South Korea, on Monday. This visit is part of Canada’s efforts to select a supplier for its significant submarine acquisition initiative, the Canadian Patrol Submarine Project (CPSP). Hanwha Ocean and Germany’s Thyssenkrupp Marine Systems (TKMS) were shortlisted for the project last summer, and both finalists are expected to submit their proposals to the Canadian government by March.
The CPSP aims to introduce up to 12 submarines in the 3,000-ton class, with an estimated budget of 60 trillion won (approximately US$41 billion). This comprehensive program also includes lifetime maintenance and support for the submarines. During his visit, Fuhr had the opportunity to board the Jang Bogo-III Batch-II submarine, named Jang Yeong-sil, which Hanwha Ocean has proposed for the Canadian project. He also toured the shipyard and automation facilities, where he praised the advanced technologies on display.
Fuhr described his experience aboard the submarine as remarkable, highlighting the innovative capabilities of Hanwha Ocean. His visit underscores the importance of this project for Canada, which is looking to enhance its naval capabilities.
Strengthening Economic Ties and Industrial Cooperation
During his visit, Minister Fuhr emphasized the potential for collaboration between Canada and South Korea, particularly in the automotive sector. He indicated that Canada aims to leverage the submarine project to foster deeper economic partnerships and industrial benefits. Offset requirements are a critical aspect of defense contracts, where sellers are expected to provide technology transfers and other industrial advantages to the purchasing country.
Fuhr noted that Canada will prioritize suppliers based on the economic value they can deliver, especially as the country restructures its economic framework to focus on job creation and opportunities. Ted Kirkpatrick, Vice President of Ontario Shipyards, remarked that the visit provided insights into how Canadian shipyard facilities and workforce could effectively utilize Hanwha Ocean’s shipbuilding capabilities.
In preparation for the CPSP bid, Hanwha Ocean and Hanwha Systems recently signed memorandums of understanding with five Canadian companies. These agreements aim to promote strategic investment and cooperation in various fields, including steelmaking, artificial intelligence, and aerospace. Hanwha Ocean’s CEO, Kim Hee-cheul, expressed confidence in the company’s ability to meet the project requirements, stating that they can provide optimal solutions for the Canadian Navy while serving as a reliable partner for future growth.
As the CPSP progresses, the collaboration between Canada and South Korea may pave the way for enhanced defense capabilities and economic partnerships, benefiting both nations in the long run.
