Beyond Arms Exports: Hanwha Ocean’s Strategic Partnership Bid in Canada

Canada’s Canadian Patrol Submarine Project (CPSP) has emerged as one of the most closely watched defense procurement programs in the world. Valued at up to KRW 60 trillion, the project aims to replace the aging Victoria-class submarine fleet and strengthen Canada’s maritime security capabilities. With the world’s longest coastline and growing strategic challenges in the Arctic—including increased Russian activity, Chinese interest in the region, and evolving NATO commitments—Canada views submarine modernization as a national priority.

Hanwha Ocean is actively positioning its KSS-III submarine as a strong contender for the

program. The company has highlighted not only the platform’s performance, but also South Korea’s strengths in rapid delivery, technological capability, and reliable project execution. Hanwha Ocean argues that its proposal can help Canada avoid a submarine capability gap while delivering substantial economic benefits, including the potential creation of more than 22,500 jobs annually and an estimated GDP impact of approximately USD 94 billion.

During CANSEC 2026, Hanwha Ocean held discussions with key Canadian stakeholders, including representatives from the governments of Ontario and Nova Scotia, as well as industry organizations such as the Automotive Parts Manufacturers’ Association (APMA), Babcock Canada, Seaspan, and Irving Shipbuilding. The company has already signed a teaming agreement with Babcock Canada focused on job creation, skills development, and long-term in-country sustainment. Through local industrial participation and supply-chain development, Hanwha Ocean is seeking to position itself not merely as a submarine supplier, but as a long-term partner in strengthening Canada’s defense and industrial capabilities.