Hanwha Ocean is intensifying its efforts to secure Canada’s significant 60 trillion won ($39.8 billion) submarine bid, presenting a compelling vision for economic growth at CANSEC 2026, Canada’s premier defense and security trade show. The global shipbuilding leader highlighted an ambitious strategy designed to bolster the Canadian economy and industrial landscape.
Throughout the CANSEC 2026 event, which ran from Wednesday to Thursday, Hanwha Ocean engaged extensively with key Canadian government officials and prominent industry leaders. The company underscored its commitment to generating over 22,500 jobs and delivering an impressive 94 billion Canadian dollars ($68 billion) in GDP impact for Canada, should it be selected for the crucial Canadian Patrol Submarine Project.
A core component of Hanwha Ocean’s presentation was its “Pan-Canada Economic Strategy,” which emphasizes a robust industrial partnership network cultivated across the nation. The company proudly showcased collaborations with more than 100 Canadian enterprises and institutions. These partnerships span vital sectors including shipbuilding, defense, automotive, and aerospace, focusing on fostering local production capabilities, facilitating crucial technology transfer, and driving workforce development initiatives.
Demonstrating high-level interest in Hanwha Ocean’s localized industrial partnership approach, Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, visited the company’s exhibition booth on Thursday, signaling Canada’s keen engagement.
Further collaboration opportunities were explored through meetings with officials from leading defense and maritime companies such as Seaspan, Irving Shipbuilding, Babcock Canada, and CAE. Representatives from organizations like Invest Nova Scotia and the University of Waterloo also met with Hanwha Ocean, affirming broad Canadian interest in the proposed partnership.
Central to Hanwha Ocean’s strategy for the Canadian submarine bid is the proven operational and technological superiority of its KSS-III submarine. This advanced platform is currently an integral part of the Republic of Korea Navy’s fleet, showcasing its readiness and capability.
The KSS-III stands as the world’s first diesel-electric submarine to seamlessly integrate both an air-independent propulsion (AIP) system and cutting-edge lithium-ion battery technology. This combination ensures stable underwater performance and exceptional operational flexibility. Enhanced with advanced acoustic stealth technologies and a sophisticated combat system, the KSS-III is capable of executing a diverse array of maritime missions, positioning it as a strong contender for the Canadian Navy’s future submarine fleet.
At its CANSEC exhibition, Hanwha Ocean powerfully illustrated the KSS-III’s long-range capabilities by highlighting the recent deployment of the Republic of Korea Navy’s KSS-III-class submarine, the Republic of Korea Ship Dosan Ahn Changho. This vessel successfully completed an approximate 14,000-kilometer voyage from Korea to Canada’s Esquimalt Naval Base, underscoring its endurance and reliability.
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