Industry Minister Kim Jung-kwan speaks at a press conference held in Sejong, Wednesday. Courtesy of Ministry of Trade, Industry and Resources
Industry Minister Kim Jung-kwan has underscored Korea's competitive edge in the ongoing race to win Canada's high-profile submarine project, highlighting the country's manufacturing capabilities and contributions it can make to Canada's automotive sector.
Kim made the remarks in a press conference held Wednesday as Seoul awaits Canada's planned announcement of the preferred bidder for the estimated 60 trillion-won ($40 billion) project to build as many as 12 new conventionally powered submarines, which is scheduled for late next month.
The Korean consortium, comprising Hanwha Ocean and HD Hyundai Heavy Industries, is one of the two final contenders for the high-profile project, alongside Germany's Thyssenkrupp Marine Systems.
Kim said Seoul can supply the KSS-Ⅲ class submarines, an "existing" and already operation model, while Germany is still designing its submarine for Canada, stressing that the Korean submarine offers much better features and price competitiveness.
