Hanwha Ocean Press Release – Translated by Naval News
Hanwha Ocean, led by Vice Chairman Kwon Hyuk-woong, is actively pursuing a contract for Canada’s submarine project.
Hanwha Ocean, in collaboration with Hanwha Aerospace, was the only Korean company to participate in CANSEC (Canada’s Global Defence & Security Trade Show), Canada’s largest defense exhibition. To strengthen cooperation in the submarine business, Hanwha Ocean signed cooperation agreements with three Canadian companies: CAE Inc., Curtiss-Wright Indal Technologies, and GASTOPS. The signing ceremony was attended by Yong Ook Lee, Executive Vice President and Head of Naval Ship Business Unit at Hanwha Ocean, along with representatives from each company.
Hanwha Ocean had already established partnerships last year by signing MOUs with four companies, including CAE Inc., at the ‘Deep Blue Forum 2023’, a forum specialized in submarines. During this CANSEC, Hanwha Ocean elevated its cooperation with CAE Inc. by signing a Teaming Agreement, which is a step above an MOU, to build a more concrete and strengthened relationship.
Additionally, Hanwha Ocean signed MOUs with Curtiss-Wright Indal Technologies for cooperation on towed array sonar operation systems and with GASTOPS for cooperation on propulsion system control, modeling, and simulation.
The representatives from each company pledged to combine their technological expertise and experience through this agreement, further expanding cooperation in Canada’s submarine project sector in areas such as technology exchange, joint research and development, and market development.
The Canadian government is currently pursuing a new submarine acquisition project to replace the four Victoria-class submarines in its navy, aiming to enhance its maritime operational capabilities.
Hanwha Ocean, a leading company representing South Korea, is globally recognized for its exceptional submarine technology. It is the fifth country in the world to export submarines and the eighth to independently develop 3,000-ton class submarines.
Notably, the Jangbogo-III (KSS-III) submarine, currently drawing global attention in the defense industry, is the world’s first to combine an Air-Independent Propulsion (AIP) system with lithium-ion batteries. It boasts the strongest armament and the longest underwater endurance among existing diesel-powered submarines. Through its advanced technology and collaboration with local Canadian companies, Hanwha Ocean aims to successfully lead Canada’s patrol submarine project, participating in the design, construction, and subsequent logistics support.
Yong Ook Lee, Executive Vice President and Head of the Naval Ship Business Unit at Hanwha Ocean, stated:
“The signing of this Teaming Agreement and MOUs will serve as a crucial stepping stone in expanding Hanwha Ocean’s technological prowess and collaborative network with local Canadian companies in the submarine business. Hanwha Ocean is committed to developing optimal solutions with local Canadian companies based on our world-class submarine technology, contributing to the advancement of the Korean defense industry through increased maritime defense exports.”
Meanwhile, CANSEC, Canada’s largest defense exhibition, is held annually in Ottawa. Hanwha Ocean, together with Hanwha Aerospace, participated as a Diamond Sponsor at this year’s CANSEC, showcasing a variety of maritime and land solutions, including the Jangbogo-III (KSS-III) submarine and the K-9 SPH, demonstrating their integrated defense capabilities.