[Conference Call] Hanwha Ocean Proposes Delivering Four Submarines for Canadian CPSP by 2035

At its earnings conference call for the fourth quarter of last year held on the 4th, Hanwha Ocean stated, "For the Canadian Patrol Submarine Project (CPSP), we are proposing a local ecosystem-building model through a 'one-team' framework with Babcock in the United Kingdom, which includes job creation in Canada, technology transfer, and service support. To meet the fast delivery timeline that Canada considers important, we have proposed delivering four submarines by 2035."

It continued, "We have consistently pursued a strategy of building both operational sovereignty and independent maintenance capabilities together with allied and partner countries, with verified performance and localization as the two main pillars," adding, "As the government-to-government (G2G) nature of the project has recently come to the fore, active support and high-level communication at the government level are taking place in parallel, and we will concentrate all our capabilities to achieve the best possible outcome in close cooperation with the government."

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