Hanwha Ocean to Make History as Korea’s Representative in Submarine Exports

Hanwha Ocean Advances to Final Round of Canada's 60 Trillion Won Submarine Project CPSP
"Determined to Win the Contract"
Beating Out Leading European Defense Companies for a Spot in the Finals

Hanwha Ocean has made it to the final shortlist of the Canadian submarine project (CPSP), which is valued at up to 60 trillion won, surpassing leading global defense companies and narrowing the competition to two finalists.

As South Korea and the United States deepen their shipbuilding cooperation, attention is focused on whether the success story of "K-Defense in Maritime" will continue in Canada.

On the 26th, Hanwha Ocean (CEO Kim Heecheol) announced that it had been selected for the shortlist in the Canadian Navy’s project to acquire twelve 3,000-ton submarines.

The Canadian Navy has been pursuing a submarine procurement project to replace its four 2,400-ton Victoria-class submarines, which it acquired from the British Navy in 1998 and currently operates.

Hanwha Ocean’s final competitor is Germany’s ThyssenKrupp Marine Systems (TKMS), setting the stage for an intense two-way race. Major European defense companies, including France’s Naval Group, Spain’s Navantia, and Sweden’s Saab, also vied for the contract, but Hanwha Ocean and Germany’s TKMS secured the tickets to the final round.

For this project, Hanwha Ocean proposed the 3,000-ton Jangbogo III Batch-2, which boasts the highest operational performance among existing diesel-powered submarines (excluding nuclear-powered submarines). The Jangbogo III Batch-2 submarine is equipped with an Air-Independent Propulsion (AIP) system and lithium-ion batteries, enabling underwater operations for over three weeks and a maximum range of 7,000 nautical miles (approximately 12,900 km).

Because of this, the submarine can operate across vast areas, including the Pacific, Atlantic, and Arctic Oceans, making it highly optimized for the Canadian Navy’s operational environment. Additionally, it is equipped with vertical launch tubes capable of launching submarine-launched ballistic missiles (SLBM), giving it the capability to implement an asymmetric deterrence strategy.

Hanwha Ocean reportedly impressed the Canadian Navy not only with the competitiveness of the Jangbogo III Batch-2 submarine, but also with its ability to deliver quickly, its proven submarine solutions, and its localization strategy.

Jangbogo III Batch-2 submarine built by Hanwha Ocean.

A Hanwha Ocean official emphasized, "While it typically takes about nine years from contract signing to delivery for submarines, we are confident we can shorten this to six years. We are fully prepared to mobilize all resources and capabilities to win the contract, including building an operations and in-service support (ISS) center locally."

To strengthen its competitiveness in the Canadian submarine export market and local military support business, Hanwha Ocean entered into a strategic partnership with the UK’s Babcock Group in November last year. The company has also signed memorandums of understanding (MOUs) with numerous firms, including CAE, BlackBerry, and L3 Harris MAPPS, which are leading technology companies in Canada’s security and maritime defense sectors, as part of its ongoing efforts to secure the CPSP contract.

Hanwha Ocean’s entry into the CPSP shortlist is expected to have a very positive impact on its export competitiveness in countries such as Poland and those in the Middle East, which are also preparing to acquire submarines.

In particular, Poland, which may begin the selection process for its own project within this year, is believed to have closely watched Canada’s shortlist decision, as both are members of the North Atlantic Treaty Organization (NATO). As part of its naval modernization, Poland plans to acquire three submarines through the "Orka Project." Including maintenance and support, the project is expected to be worth up to 8 trillion won.

Jung Seunggyun, Executive Vice President and Head of Hanwha Ocean’s Special Ship Business Division, stated, "Hanwha Ocean is working as a 'one team' with the Ministry of National Defense, Defense Acquisition Program Administration, Navy, and even the National Assembly to secure the CPSP contract. Being shortlisted is the direct result of these efforts."

Jung added, "We are determined to achieve a successful outcome in securing the CPSP contract, which will not only strengthen economic and industrial ties between Korea and Canada but also enhance naval cooperation, together with the government and National Assembly."

This content was produced with the assistance of AI translation services.