![\"Hanwha](\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/07\/news-p.v1.20260707.b71dd54206d94ecf95e5c4396a095192_P1.jpg\"\/ "\\"Hanwha")
Hanwha Ocean-built 3,600-ton next-generation submarine, the Jang Bogo-\u2162 Batch-\u2161 lead ship “Jang Yeong-sil”\/Navy<\/p>\nHanwha Ocean-built 3,600-ton next-generation submarine, the Jang Bogo-\u2162 Batch-\u2161 lead ship “Jang Yeong-sil”\/Navy<\/p>\n
Hanwha Ocean (042660.KS) lost out on Canada’s next-generation submarine project (CPSP), worth up to 60 trillion won, but competed on equal footing with Germany until the very end, proving its competitiveness in the global defense market.<\/p>\n
Canadian Prime Minister Mark Carney announced Thursday that Germany’s ThyssenKrupp Marine Systems (TKMS) had been selected as the preferred bidder for the CPSP. The Canadian side cited that TKMS’s submarines are optimized for Arctic waters and offer full interoperability with the North Atlantic Treaty Organization (NATO) as reasons for the selection. If negotiations with TKMS fail, Hanwha Ocean would take over the preferred bidder position.<\/p>\n
Although it did not win Canada’s final choice, the prevailing assessment is that the bidding contest served as an opportunity to confirm Hanwha Ocean’s competitiveness. By beating out major European defense firms from France, Spain, and Sweden and battling submarine powerhouse Germany’s TKMS to the end, the company demonstrated the underlying strength of Korea’s defense industry.<\/p>\n
Indeed, Carney stressed Thursday that “both TKMS and Hanwha Ocean met the high-level performance standards required by the Canadian navy,” adding it was “a difficult decision reached after agonizing until the last moment between two companies with outstanding capabilities.”<\/p>\n
Analysts also note that this experience will serve as a strong reference for Hanwha Ocean in future submarine bidding contests in other countries. Lee Dong-han, a research fellow at Shinhan Investment & Securities, said, “Hanwha Ocean pushed the situation into an extremely close race by leveraging its proven platform, early delivery, and partnerships with local companies.” He noted, “It missed the contract, but it was a process of winning the market.”<\/p>\n
The analyst particularly forecast that this experience will serve as a valuable asset in subsequent exports to Poland, the Middle East, and Southeast Asia, as well as in maintenance, repair, and overhaul (MRO) cooperation in the North American region.<\/p>\n
President Lee Jae-myung also offered encouragement on Facebook, writing, “We did not achieve the result we had hoped for, but we once again clearly showed our strength to the international community.” In a statement, Hanwha Ocean said, “We will closely analyze the tasks identified through this bidding competition, devise clear alternatives, and will surely find a way for ‘K-maritime defense’ to make an even greater leap in the global market.”<\/p>\n","protected":false},"excerpt":{"rendered":"Hanwha Ocean-built 3,600-ton next-generation submarine, the Jang Bogo-\u2162 Batch-\u2161 lead ship “Jang Yeong-sil”\/Navy Hanwha Ocean (042660.KS) lost out…\n","protected":false},"author":2,"featured_media":77506,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[345],"tags":[27953,1004,355,354,373,12021,1008,21102,41956,367],"class_list":["post-77505","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hanwha-ocean","tag-canada-submarine-project","tag-cpsp","tag-hanwha","tag-hanwha-group","tag-hanwha-ocean","tag-k-defense","tag-korea-defense-industry","tag-mark-carney","tag-submarine-exports","tag-tkms"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/77505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=77505"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/77505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/77506"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=77505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=77505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=77505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}