A Jangbogo-III Batch-II submarine built by Hanwha Ocean. Photo courtesy of Hanwha Ocean
July 5 (Asia Today) -- Canada is nearing a decision on a major submarine program that could open the North American defense market to South Korea's Hanwha Ocean or strengthen Germany's naval defense ties with Ottawa.
The Canadian Patrol Submarine Project is intended to replace Canada's aging fleet of four Victoria-class submarines with as many as 12 new conventionally powered submarines. Industry estimates put the program at as much as 60 trillion won, or about $39.3 billion, when shipbuilding and long-term maintenance are included.
Canada is expected to select a preferred bidder soon, with the timing drawing attention because Prime Minister Mark Carney is scheduled to attend the NATO summit in Ankara, Turkey, from Monday to Wednesday.
A decision near the summit could carry a political message about Canada's defense cooperation with allies. Germany has been pressing its case through government-level support for TKMS, while Hanwha Ocean is emphasizing delivery speed, pricing and proven South Korean submarine technology.
