A trusted partner for Canada’s maritime future

The Canadian Patrol Submarine Project (CPSP) is a once-in-a-generation program to renew Canada’s submarine fleet and sustain maritime security across the Atlantic, Pacific, and Arctic. The initiative is designed to replace the Royal Canadian Navy’s Victoria-class submarines with up to 12 modern vessels, ensuring continuity of capability well into the future.

Canada’s current Victoria-class submarines were originally designed and constructed in the 1980s and entered Royal Canadian Navy service following their acquisition in the late 1990s. CPSP supports a planned transition to a next-generation fleet aligned with the Navy’s long-term modernization timeline in the mid-to-late 2030s.

Hanwha Ocean operates with a long-term approach to Canada’s submarine program, emphasizing a proven platform, production readiness, and sustained industrial participation. This operating model is built around in-service, in-production systems and supported by active manufacturing lines, prioritizing reliability, delivery certainty, and continuity of operations over extended service life. The approach supports sovereign control, predictable performance, and long-term economic value for Canada, aligned with national security needs.

Hanwha is a proven, trusted partner committed to supporting industrial resilience, security needs, and sovereign capability through sustained cooperation and local participation.

The KSS-III is a modern, conventional submarine designed for long-range operations and sustained presence at sea, including in Arctic environments. Built on decades of operational experience, the platform emphasizes endurance, discretion, and reliability. Its mature, production-ready design enables predictable performance and continuity of undersea operations over long service life.

Hanwha’s involvement in CPSP reflects a long-term commitment to building and sustaining industrial capability in Canada, alongside fleet renewal. Through a comprehensive, cross-sector approach spanning defense, energy, advanced manufacturing, and technology, Hanwha supports enduring employment, resilient domestic supply chains, and long-term industrial capacity. Backed by a whole-of-government approach as Canada-South Korea relations continue to deepen, Hanwha remains focused on advancing durable economic and security outcomes for Canada over decades.

Hanwha Ocean is a world-class shipbuilder with decades of experience delivering complex commercial and naval platforms at scale. Operating one of the world’s largest integrated shipyards, the company combines advanced manufacturing, proven production capacity, and a track record of long-term program delivery across defense, energy, and advanced manufacturing.

• One of the TIME100 Most Influential Companies

  *In 2024

  

• Business
  Enterprise
  Ranking
  in South Korea

  *Total asset basis, as of 2024

  Top 7

• Total Sales

  *As of 2024

  $64.1B

• Years since Founding

  *Founded in 1952

  73

• Ranking on Fortune
  Global 500^®

  *As of 2025

  382

• Global
  Networks

  *As of end of 2023

  821