Kolon SpaceWorks Partners with Hanwha Ocean and Spatec to Target North American Submarine Market

Participation in Canadian Submarine Project: Establishing a Foothold in North America
Securing Local Manufacturing Capabilities through Spatec Collaboration
Expanding Submarine Business from the Middle East to North America

Kolon SpaceWorks, an advanced composite material solutions company under Kolon Group, announced on April 29 that it is partnering with Hanwha Ocean and the Canadian company Spatec to target the North American defense market.

Sanghyun Ahn, CEO of Kolon Spaceworks (right), is signing a team agreement (TA) to strengthen competitiveness in the Canadian Next-Generation Submarine Project (CPSP) together with Seungkyun Jung, Executive Vice President and Head of Overseas Special Ship Business at Hanwha Ocean (left), and James Countouris, CEO of Spatec (center), at the 'CPSP Partners Day' held on the 28th (local time) in Montreal, Canada. Kolon Spaceworks

On April 28 (local time), at the 'CPSP Partners Day' held in Montreal, Canada, Kolon SpaceWorks entered into a Team Agreement (TA) with Hanwha Ocean and Spatec to strengthen competitiveness in the Canadian Patrol Submarine Project (CPSP).

This agreement is significant as it secures a local Canadian partner with manufacturing capabilities, thereby establishing a foundation for localizing the CPSP project.

Previously, in February, Kolon SpaceWorks also signed an agreement with Hanwha Ocean to enter the submarine market in Saudi Arabia and the Middle East, as part of its efforts to expand into overseas defense markets.

The company possesses core technologies for submarine components such as non-pressure hulls, sonar acoustic windows, and integrated mast systems, and has participated in the Jangbogo-class (KSS-I), Jangbogo-III (KSS-III) Batch-I and II projects, as well as submarine projects in Indonesia.

For the CPSP project, Kolon SpaceWorks plans to enter the North American market in earnest by leveraging its composite material-based submarine component technology through collaboration with Spatec. Based in Erin, Ontario, Canada, Spatec is a composite materials company with over 40 years of manufacturing expertise in the automotive, industrial, and defense sectors.

Kolon SpaceWorks also plans to seek additional local partnerships and expand cooperation with local organizations to establish a medium- to long-term business foundation in the North American defense market.

Sanghyun Ahn, CEO of Kolon SpaceWorks, stated, "Through this agreement, we aim to strengthen our local cooperation network in Canada and enhance our competitiveness in the defense sector, including the CPSP project." He added, "We will expand our proven composite material technology from Korea to the global market and broaden our collaboration to include the aerospace sector."

Kolon SpaceWorks is expanding its business beyond defense into the space launch vehicle and aviation sectors based on composite material technology. The company has also achieved results in the aerospace sector by supplying key components for the private space launch vehicle 'HANBIT' series.

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