According to industry sources on May 31, Hanwha is ramping up efforts to secure the CPSP contract, having successfully concluded the CANSEC 2026, Canada’s largest defense exhibition. Hanwha Ocean emphasized its submarine capabilities and contributions to the Canadian economy at the exhibition, where Chief of Naval Operations Kim Kyung-ryul and Defense Acquisition Program Administration Commissioner Lee Yong-cheol visited Hanwha's booth to engage with Canadian political and industrial figures in support of the bid.
Ministers from Ontario and Nova Scotia, along with key representatives from Canadian defense and shipbuilding sectors, also visited Hanwha's booth to discuss collaboration opportunities. On May 21, Hanwha signed a memorandum of understanding with Canadian aerospace firm Reaction Dynamics to explore strategic investments aimed at enhancing Canada’s launch capabilities.
Business analysts note that under the leadership of Vice Chairman Kim Dong-kwan, Hanwha is consolidating all its resources to secure the CPSP contract.
At the heart of the bidding process is Hanwha Ocean's long-established submarine technology. The company is showcasing its capabilities with the Changbogo-III class submarine, a 3,000-ton vessel developed in South Korea. When the lead ship, the Dosan Ahn Chang-ho, docked at the Esquimalt naval base in British Columbia on May 24, Canadian naval officials were able to verify its long-range operational capabilities and operational stability.
The Canadian government views the rapid delivery of next-generation submarines as a key factor in addressing 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 caution that securing the contract may not be easy, as competitor TKMS from Germany 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 company 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 a local production base for military vehicles and other ground weapons. Hanwha Systems plans to broaden cooperation in satellite communications, AI, and surveillance technologies in the defense electronics sector with Canada.
A Hanwha Ocean representative stated, "We are committed to becoming a trusted long-term partner for Canada through local investment, industrial cooperation, workforce development, and continuous economic contributions that support Canada's 'Buy Canadian' policy."
* This article has been translated by AI.
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