Hanwha Ocean is actively pursuing Canadian submarine business orders with its overwhelming submarine technology.
Hanwha Ocean announced that it has signed a total of four MOUs with four local companies for the Canadian submarine business while attending the "Deep Blue Forum 2023," Canada's only specialized submarine forum in Ottawa, Canada.
The four Canadian companies that signed MOUs with Hanwha Ocean are CAE Inc., J-Squared Technologies, Modest Tree, and Des Nedhe. The event was attended by representatives from each of the five companies, including Mr. Seungkyun Jung, Vice President of Hanwha Ocean's Specialty Vessel Overseas Business Division.
International defense trade is inherently challenging and requires various trade-offs to be met. Canada's submarine procurement project also requires the fulfillment of conditions for the development of Canadian industry and technology, including the purchase of Canadian-made equipment, cooperation with local SMEs and indigenous companies, and investment in technology development. In order to work with local companies, it is necessary to have independent submarine design capabilities and a wide range of technical skills that can be adapted to different situations.
Hanwha Ocean is already highly recognized domestically and internationally for its unique submarine design and development capabilities. With the signing of this memorandum of understanding, the company will be able to utilize its capabilities to the fullest based on a stronger cooperation network to gain an advantage in Canada's submarine project. It is also expected to contribute significantly to the development of the Canadian industry and the friendly relations between Korea and Canada through efficient cooperation with local companies.
"As Korea's leading defense company with technical and moral capabilities, Hanwha Ocean will do its best to find optimal solutions to protect national interests and the security of our friends," said Seung-Kyun Jung, Vice President of Hanwha Ocean's Special Vessel Overseas Business Division.
Meanwhile, the Canadian government has recently been promoting the introduction of new submarines to replace the navy's four Victoria-class submarines, which will strengthen its defense and maritime operations capabilities. Hanwha Ocean is the world's fifth largest submarine exporter and the eighth to indigenously develop a 3,000-ton submarine. With these technologies and cooperation with local Canadian companies, the company will successfully lead the Canadian submarine acquisition project and participate in the design, construction, and logistics support business.
