Kang Hoon-sik, back row fifth from left, chief of staff to Korean President Lee Jae Myung, joins a memorandum of understanding signing between Hanwha Ocean, Canada's Automotive Parts Manufacturers' Association and Algoma Steel, at Martinrea International's manufacturing plant in Woodbridge, Ontario, Monday. Photo from Kang's Facebook
Project Beaver, a proposal involving manufacturing and user infrastructure for long-haul hydrogen trucks in Canada, has emerged as Korea's secret weapon to woo the Canadian government ahead of its announcement of a winning bidder for its submarine contract later this month.
The project will be the latest addition to a bundle of economic benefits for Canada as part of the bid proposed by Hanwha Ocean, HD Hyundai Heavy Industries and the Korean government. If the Canadian government approves the project, worth roughly 60 trillion won ($43.5 billion), the North American country will be able to build a nationwide hydrogen truck ecosystem starting as early as 2030.
During his visit to Canada last week to facilitate bilateral economic ties, Korea's presidential chief of staff Kang Hoon-sik proposed the project to the Canadian government. He mentioned the project in partnership with Hyundai Motor Group during an interview on Wednesday with CTV, a local broadcaster in Canada.
