Trip by Minister Pistorius: Who Gets the Canadian Billion Deal?
The bidders are pitching delivery speed, NATO interoperability and billions in economic benefits as Ottawa weighs a decision expected by the end of June.
- By the end of June 2026, Prime Minister Mark Carney's government will select a winner between Hanwha Ocean and ThyssenKrupp Marine Systems to supply 12 submarines for the Royal Canadian Navy.
- Canada's existing fleet of four Victoria-class submarines faces retirement by 2035, with only one currently functional, forcing the government to accelerate this high-stakes procurement.
- Hanwha promises $60 billion in economic opportunities with delivery starting in 2034, while TKMS pledges $160 billion in activity and $86 billion in GDP, offering four vessels by 2036.
- At CANSEC on May 27, Defence Minister Boris Pistorius campaigned for TKMS while Hanwha launched a nationwide advertising blitz to establish itself as a tier-one defence provider.
- Secretary of State Stephen Fuhr confirmed the government remains on track for an end-of-June decision, describing the competitive process as one of Canada's fastest military procurements ever.
31 Articles
31 Articles
Presidential envoy visits Canada to expand ties, back submarine bid
Presidential chief of staff Kang Hoon-sik departed for Canada on Sunday in his capacity as presidential special envoy for strategic economic cooperation in a visit widely seen as connected to Ottawa's submarine procurement project. "ROK-Canada relations have been rapidly expanding across the economy, energy and high-tech industries," he wrote on his Facebook page. "Amid the prolonged Middle East crisis, I am keenly aware that the two countries' …
Kang Hoon-sik, Chief of Staff to the President, departed for Canada on the 31st as President Lee Jae-myung's special envoy for strategic economic cooperation. With the selection of the contractor for Canada's next-generation submarine (CPSP) project, estimated to be worth up to 60 trillion won, just one month away, he is expected to provide last-minute, all-out support on-site to help Korean companies secure the contract.
The Toronto Star
International competition to build Canada’s next submarine fleet enters home stretch
Two qualified bidders, South Korea's Hanwha Oceans and Germany's TKMS, have fought to supply the Royal Canadian Navy with some 12 submarines.
Winnipeg Free Press
International competition to build Canada's next submarine fleet enters home stretch
OTTAWA - The race to build Canada's next submarine fleet is on its final lap as the federal government evaluates two rival bids for the lucrative contract.
All for one: Norway, Germany sell Canada on shared submarine fleet
Germany and Norway are intensifying their bid for Canada’s submarine contract, pitching the Type 212CD as part of a shared NATO fleet. The allies have even surrendered production slots to accelerate delivery, highlighting a growing effort to counter South Korea's advantage.
Coverage Details
Bias Distribution
- 68% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
