Jung Seung-kyun (left), executive vice president and head of the naval ship overseas business division at Hanwha Ocean, speaks with Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, at the company’s exhibition booth during CANSEC 2026 in Ottawa, Canada, on Thursday. (Hanwha Ocean) Hanwha Ocean is advancing its efforts to win a 60 trillion won ($39.8 billion) submarine bid from Canada, proposing an ambitious plan to boost the Canadian economy at CANSEC 2026, the country’s largest defense and security trade show.During the event — held from Wednesday to Thursday — the company engaged with Canadian government officials and industry leaders, emphasizing that it could generate more than 22,500 jobs and contribute 94 billion Canadian dollars ($68 billion) in GDP impact if it is chosen for the Canadian Patrol Submarine Project.Hanwha Ocean also showcased its “Pan-Canada Economic Strategy,” highlighting the industrial partnership network it has established across Canada. The company has already collaborated with more than 100 Canadian companies and institutions on key industries such as shipbuilding, defense, automotive and aerospace to support local production, technology transfer and workforce development.On Thursday, Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, visited Hanwha Ocean’s booth, underscoring the country's strong interest in the company’s local industrial partnership strategy.Officials from major defense and maritime companies — including Seaspan, Irving Shipbuilding, Babcock Canada and CAE — as well as organizations such as Invest Nova Scotia and the University of Waterloo, also met with Hanwha Ocean to explore potential collaboration opportunities.A key pillar of the shipbuilding giant’s strategy for the submarine bid was the operational and technological competitiveness of its KSS-III submarine, which is currently operated by the Republic of Korea Navy.The KSS-III is the world’s first diesel-electric submarine to incorporate both an air-independent propulsion system and lithium-ion battery technology, featuring stable underwater performance and operational flexibility. Equipped with advanced acoustic stealth technologies and a sophisticated combat system, the platform is capable of conducting a wide range of maritime missions and is considered a strong candidate for the Canadian Navy’s future submarine fleet.At its exhibition booth, Hanwha Ocean highlighted the recent long-range deployment of the Korean Navy’s KSS-III-class submarine, Republic of Korea Ship Dosan Ahn Changho, which recently completed a roughly 14,000-kilometer voyage from Korea to Canada’s Esquimalt Naval Base.