Latest news with #KSS-III-class
Korea Herald
30-05-2025
- Business
- Korea Herald
Hanwha teams up with Canadian industry to advance submarine project bid
Korean shipbuilder Hanwha Ocean said Friday it has partnered with leading Canadian security and defense firms to strengthen its bid for a Canadian submarine project with an estimated value of up to 60 billion Canadian dollars ($43.4 billion). Alongside its parent company, Hanwha Aerospace, Hanwha Ocean signed agreements with cybersecurity provider BlackBerry and marine defense systems developer L3Harris MAPPS during Canada's Global Defence & Security Trade Show, known as CANSEC 2025. The two-day event, Canada's largest defense industry gathering, began Wednesday and featured Hanwha as the only participating Korean defense company. The agreements were signed in the presence of Michael Coulter, CEO of Hanwha Global Defense, who oversees global operations for Hanwha Aerospace and Hanwha Ocean, along with Phil Kurtz, chief legal officer of BlackBerry, and Rich Foster, vice president of L3Harris Technologies Canada. 'We see significant opportunities for synergies between Hanwha Ocean and these Canadian partners -- BlackBerry and L3Harris,' said CEO Coulter. 'With the signing of these MOUs, Hanwha can begin developing strategic relationships with these partners, which will also enhance and strengthen the relationship between Canada and South Korea.' Hanwha expects the partnerships will tighten its alignment with Canadian industry and provide an opportunity to leverage its partners' long-standing experience with the Canadian Navy, in particular giving new momentum to its bid for Canada's submarine procurement plan, which includes up to 12 vessels. Hanwha Ocean, with extensive submarine manufacturing experience, is collaborating with another Korean shipbuilding giant, HD Hyundai Heavy Industries, to propose advanced KSS-III-class submarines, designed and built using domestic Korean technology.
Korea Herald
07-05-2025
- Business
- Korea Herald
HD Hyundai, Hanwha join forces for $17.4b Canadian submarine bid
Korea's leading shipbuilders have teamed up to pursue a Canadian submarine project estimated to be worth up to 24 billion Canadian dollars ($17.4 billion), easing their long-standing rivalry in the special shipbuilding sector, industry sources said Wednesday. HD Hyundai Heavy Industries and Hanwha Ocean, two of Korea's largest shipyards, jointly submitted a proactive proposal to the Canadian government in March for the project, which aims to add up to a dozen 3,000-ton-class submarines to the country's fleet. The submission outlined key specifications of the submarines, estimated delivery schedules and other relevant details, ahead of the project's formal solicitation of participants. 'We are exploring various approaches to win this project, and joint participation is one of them,' said an official from one of the two companies, speaking on condition of anonymity. According to a Monday report by the Canadian Broadcasting Corporation, the two companies proposed to offer advanced KSS-III-class submarines, developed with domestic Korean technology. The report also highlighted that the proposal emphasizes fast delivery and includes plans to build maintenance facilities in Canada. These facilities would employ Canadian nationals, aligning with the country's economic and industrial priorities. The companies reportedly pledged to deliver the first four submarines by 2035, the same timeline the Canadian Navy had originally set for receiving just one vessel. This collaboration follows a strategic agreement between the two companies and Korea's Defense Acquisition Program Administration, under which they agreed to cooperate in pursuing overseas defense contracts. The two companies have been at odds over Korea's 7.8 trillion won ($5.5 billion) next-generation Aegis-equipped destroyers project, currently stalled due to unresolved disputes over contractor selection. The Korean defense authority led the partnership out of concern that internal competition could hinder the country's chances in major global defense bids, especially after both companies failed to win Australia's $7.3 billion frigate project in November. Under the agreement, the two shipbuilders will alternate leadership roles in joint bids depending on the project's nature. For the Canadian submarine project, Hanwha Ocean is expected to take the lead, leveraging its extensive experience in submarine construction. Hanwha Ocean is recognized for its submarine-building capabilities, having secured 70 percent of the total submarine contracts placed by the Korean Navy as of Wednesday. While industry insiders expect Canada to officially launch the project around 2027, shipbuilders from Germany, Norway and Spain are also anticipated to participate in the bid.
Korea Herald
07-05-2025
- Business
- Korea Herald
Hanwha, HD Hyundai join forces for $17.4b Canadian submarine bid
Korea's leading shipbuilders have teamed up to pursue a Canadian submarine project estimated to be worth up to 24 billion Canadian dollars ($17.4 billion), easing their long-standing rivalry in the special shipbuilding sector, industry sources said Wednesday. Hanwha Ocean and HD Hyundai Heavy Industries, two of Korea's largest shipyards, jointly submitted a proactive proposal to the Canadian government in March for the project, which aims to add up to a dozen 3,000-ton-class submarines to the country's fleet. The submission outlined key specifications of the submarines, estimated delivery schedules and other relevant details, ahead of the project's formal solicitation of participants. 'We are exploring various approaches to win this project, and joint participation is one of them,' said an official from one of the two companies, speaking on condition of anonymity. According to a Monday report by the Canadian Broadcasting Corporation, the two companies proposed to offer advanced KSS-III-class submarines, developed with domestic Korean technology. The report also highlighted that the proposal emphasizes fast delivery and includes plans to build maintenance facilities in Canada. These facilities would employ Canadian nationals, aligning with the country's economic and industrial priorities. The companies reportedly pledged to deliver the first four submarines by 2035, the same timeline the Canadian Navy had originally set for receiving just one vessel. This collaboration follows a strategic agreement between the two companies and Korea's Defense Acquisition Program Administration, under which they agreed to cooperate in pursuing overseas defense contracts. Hanwha Ocean and HD HHI have been at odds over Korea's 7.8 trillion won ($5.5 billion) next-generation Aegis-equipped destroyers project, currently stalled due to unresolved disputes over contractor selection. The Korean defense authority led the partnership out of concern that internal competition could hinder the country's chances in major global defense bids, especially after both companies failed to win Australia's $7.3 billion frigate project in November. Under the agreement, the two shipbuilders will alternate leadership roles in joint bids depending on the project's nature. For the Canadian submarine project, Hanwha Ocean is expected to take the lead, leveraging its extensive experience in submarine construction. Hanwha Ocean is recognized for its submarine-building capabilities, having secured 70 percent of the total submarine contracts placed by the Korean Navy as of Wednesday. While industry insiders expect Canada to officially launch the project around 2027, shipbuilders from Germany, Norway and Spain are also anticipated to participate in the bid.
