Industry Minister Kim Jung-kwan speaks at a press event to commemorate one-year anniversary of Lee Jae Myung administration in Sejong on May 27. [INDUSTRY MINISTRY]
Industry Minister Kim Jung-kwan expressed cautious optimism on Wednesday about Korea's bid to supply up to 12 patrol submarines to Canada in a contract worth 60 trillion won ($39.9 billion), as the deadline for the decision approaches next month.
Korea is facing off against Germany's TKMS in the competition, with the Korean consortium — comprising Hanwha Ocean and HD Hyundai Heavy Industries — making its case on the back of a demonstration voyage by the Dosan Ahn Chang-ho submarine, which traveled approximately 14,000 kilometers (8,699 miles) from Jinhae, South Gyeongsang, to Victoria, Canada, arriving on Saturday.
“Germany is still in the design phase,” Kim said at a press event in Sejong, marking the approaching one-year anniversary of the Lee Jae Myung administration. “From Canada's perspective, the choice between something that already exists and something still on paper should be straightforward. Our price is competitive, and the specifications we can demonstrate today are ahead of what Germany's design currently shows.”
