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South Korea delegation heads to Canada to lobby for submarine project
South Korea aims to secure a submarine contract worth over $27 billion and create 20,000 jobs by expanding industrial and security cooperation with Canada, officials said.
- On Jan 26, South Korean Presidential Chief of Staff Kang Hoon-sik departed for Toronto to support Korea's bid in the submarine contest valued at up to 60 trillion won.
- Kang argued the mission seeks pan-government backing as competition intensifies, urging support amid Germany's manufacturing strength and meeting senior Canadian officials to showcase Korean shipbuilders' submarine capabilities, with the project valued at more than 40 trillion won.
- The delegation included Hyundai Motor executives and top shipbuilders alongside Industry Minister Kim Jung-kwan; Kang Hoon-sik was appointed in October as President Lee Jae Myung's special envoy for strategic economic cooperation.
- After Canada, Kang Hoon-sik plans a Norway visit and says the procurement decision is imminent, while Oliver Burkhard, TKMS CEO, discussed a multi-billion-dollar investment offer last week.
- Seoul frames the bid as part of a broader push to expand defense ties, with the Government of South Korea supporting cooperation with Saudi Arabia, the UAE, Indonesia, and Peru, while Hanwha Group aims to create many jobs in Canada by 2040 through cross-sector efforts including submarines.
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Seoul Mounts High-Level Push to Win $12 Billion Canadian Submarine Deal
A senior South Korean delegation headed to Canada on Monday to lobby for a major submarine procurement project, as Seoul intensifies efforts to expand its defence exports and global industrial footprint. Presidential Chief of Staff Kang Hoon-sik is leading the mission alongside executives from Hyundai Motor Group and major shipbuilders Hanwha and HD Hyundai, underscoring […] The post Seoul Mounts High-Level Push to Win $12 Billion Canadian Subma…
Coverage Details
Total News Sources44
Leaning Left20Leaning Right4Center11Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 31%
12%
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