{"id":120175,"date":"2026-07-07T18:29:11","date_gmt":"2026-07-07T18:29:11","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/120175\/"},"modified":"2026-07-07T18:29:11","modified_gmt":"2026-07-07T18:29:11","slug":"carney-welcomes-other-possibilities-with-south-korea-at-nato-summit-after-passing-on-submarine-bid","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/120175\/","title":{"rendered":"Carney welcomes other ‘possibilities’ with South Korea at NATO summit after passing on submarine bid"},"content":{"rendered":"

ANKARA, TURKEY \u2014 Prime Minister Mark Carney was busy doing some aftercare with the South Koreans at the NATO Summit Tuesday after dumping their country\u2019s bid to build Canada\u2019s submarines and instead opting for a European builder.<\/p>\n

Carney was set to hold a formal bilateral meeting with the president of South Korea, Lee Jae Myung, on Tuesday afternoon. But a spokesperson for the prime minister said both men bumped into each other in the NATO leaders\u2019 lounge and had an informal discussion.<\/p>\n

Defence Minister David McGuinty described their exchange as \u201cvery encouraging.\u201d<\/p>\n

\u201cObviously, when you have two bidders, one bidder is going to be chosen, the other will not,\u201d McGuinty said of the bidding process.<\/p>\n

\"<\/p>\n

German Chancellor Friedrich Merz (C) holds a model TKMS (ThyssenKrupp Marine Systems) submarine as he poses with Canadian Prime Minister Mark Carney (R) and Norway\u2019s Prime Minister Jonas Gahr Store during a meeting on the sale of the German-Norway developed TKMS submarine to Canada on the sidelines of the 36th NATO Heads of State and Government Summit in Ankara, on July 7, 2026.<\/p>\n

The federal government announced earlier this week that it chose ThyssenKrupp Marine Systems (TKMS), a German-Norwegian partnership<\/a>, to be its \u201cpreferred bidder\u201d to replace Canada\u2019s aging fleet of submarines. Its competitor was South Korea\u2019s Hanwha Ocean, whose stock lost more than 20 per cent in value after the announcement<\/a>.<\/p>\n

McGuinty noted that Hanwha remains the second bidder in reserve, in the event that negotiations with TKMS fall apart. The negotiations are expected to conclude by the end of 2027.<\/p>\n

\u201cLook, there\u2019s a lot of co-operation possibilities here between Canada and Korea,\u201d the defence minister told reporters. \u201cWe\u2019re going to continue building that relationship, and that\u2019s exactly what the prime minister mentioned (in his discussion with President Lee).\u201d<\/p>\n

Later in the day, Carney held a trilateral meeting with German Chancellor Friedrich Merz and Norwegian Prime Minister Jonas Gahr St\u00f8re. In their public remarks to the media, the three leaders praised the opportunity to work together on the proposed purchase of the 212CD TKMS submarine.<\/p>\n

\"<\/p>\n

This handout picture released by the press service of Ukraine\u2019s Presidency on July 7, 2026 shows Ukraine\u2019s President Volodymyr Zelensky (R) speaking with Canada\u2019s Prime Minister Mark Carney on the sidelines of the 36th NATO Heads of State and Government Summit in Ankara.<\/p>\n

The three men stood in front of a large mock-up of a sub and held a model of the vessel in their hands.<\/p>\n

\u201cThis is an extraordinarily important partnership for Canada, and I would say more broadly, obviously, for our countries,\u201d Carney said.<\/p>\n

Merz praised Canada\u2019s \u201cbold decision\u201d which he said brings a \u201cnew era of co-operation.\u201d<\/p>\n

\u201cThis is something which is bringing the people together, which is bringing our countries together,\u201d he said.<\/p>\n

St\u00f8re said all three countries could end up with a total of 26 submarines. Canada is expected to order up to 12 of them but reserves the right to order fewer.<\/p>\n

The Liberal government has signalled that Canada, Germany and Norway\u2019s relationship will be much more integrated than initially anticipated. McGuinty confirmed Tuesday there will be \u201ca high degree of interoperability\u201d included in the plan, meaning that they could share crews, for instance, or co-operate on Arctic surveillance.<\/p>\n

\"<\/p>\n

This handout picture released by the press service of Ukraine\u2019s Presidency on July 7, 2026 shows Ukraine\u2019s President Volodymyr Zelensky (3L) speaking with Canada\u2019s Prime Minister Mark Carney (3R) on the sidelines of the 36th NATO Heads of State and Government Summit in Ankara.<\/p>\n

Carney joked that he hoped the interoperability would include Norwegian soccer superstar Erling Haaland in time for the next World Cup, which was met with laughs.<\/p>\n

The TKMS deal does not mean that all three countries will do everything together.<\/p>\n

Eight countries have joined Canada\u2019s efforts<\/a> to establish the new Defence, Security and Resilience Bank (DSRB), a new multilateral financial institution that is bringing together like-minded partners to provide long-term, low-cost financing for defence initiatives.<\/p>\n

To date, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey and Ukraine are the founding members of the DSRB which is set to be headquartered in Canada, Carney announced on Tuesday. Germany and Norway are not part of the group for now.<\/p>\n

McGuinty said there is already a \u201cgood core\u201d of member states who have signed on and that there is still lots to do before the DSRB is up and running, such as putting the final touches on design, setting up the bylaws of the bank and much more.<\/p>\n

\u201cThese things take time,\u201d he said. \u201cWe\u2019ll bring in other partners as we go along.\u201d<\/p>\n

National Post
calevesque@postmedia.com<\/p>\n

Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com<\/a> and sign up for our newsletters here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"ANKARA, TURKEY \u2014 Prime Minister Mark Carney was busy doing some aftercare with the South Koreans at the…\n","protected":false},"author":2,"featured_media":120176,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98],"tags":[17,16325,16790,441,14337,40665,111,40795,691,40794,40793,3191,40133],"class_list":["post-120175","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mark-carney","tag-canada","tag-david-mcguinty","tag-defence-minister","tag-diana-fox-carney","tag-friedrich-merz","tag-lee-jae-myung","tag-mark-carney","tag-mehmet-simsek","tag-nato","tag-nato-leaders","tag-norwegian-prime-minister","tag-south-korea","tag-thyssenkrupp-marine-systems"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/120175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=120175"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/120175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/120176"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=120175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=120175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=120175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}