Strong partners for a stronger Canada

The Canadian Patrol Submarine Project (CPSP) goes beyond fleet replacement, serving as a once-in-a-generation opportunity for long-term industrial and economic growth as Canada looks to replace its aging Victoria-class submarines. As a trusted partner, Hanwha has developed strong relationships with Canadian companies and universities while advancing domestic supply chains and growing a high-skilled local job force. 

Through strategic investment, technological innovation, and memorandums of understanding (MOU) with Canadian companies, universities, and regional stakeholders, Hanwha is advancing a shared vision for building a more resilient and globally competitive Canadian defense and industrial ecosystem. We look at key moments that highlight Hanwha’s long-term commitment to growth and partnership across Canada.

As Canada advances its first Defence Industrial Strategy — aimed at strengthening domestic defense production capacity, supply chain resilience, and long-term economic growth — CPSP represents a strategic opportunity to bolster the country’s maritime capability while building a globally competitive industrial base. 

Last fall, Canadian Prime Minister Mark Carney, joined by several South Korean government officials, visited Hanwha’s Geoje shipyard, where an active production line for the state-of-the-art KSS-III is ready to support Canada’s defense capability needs. The visit offered a firsthand look at Hanwha’s advanced shipbuilding infrastructure, demonstrating the company’s ability to deliver next-generation submarines on an accelerated timeline. It also reinforced Hanwha’s commitment to supporting Canada’s maritime capability and industrial resilience through CPSP.

Hanwha entered a joint venture to design and produce a world-class vehicle fleet with Canada’s Automotive Parts Manufacturers’ Association (APMA). The new venture, which is fully contingent on Hanwha’s KSS-III being selected for the Canadian Patrol Submarine Project (CPSP), will focus on non-commercial industrial and military vehicles and is expected to strengthen domestic supply chains, create tens of thousands of high-value jobs, and enhance long-term industrial competitiveness. With an emphasis on cross-sector collaboration, the agreement reflects a broader strategy to expand Canada’s advanced manufacturing and defense industrial capability.

The Government of Alberta and Hanwha Energy announced plans to explore long-term collaboration across energy development, industrial expansion, and supply chain infrastructure. The agreement signals a shared ambition to strengthen Canada’s energy and industrial base by exploring opportunities across clean energy and resource development. By aligning with provincial priorities and investing in critical infrastructure, Hanwha is helping build the foundation for a more resilient, future-ready economy.

Hanwha Ocean signed an MOU with Algoma Steel, a legacy Canadian steel producer, to invest $345 million (CAD) toward developing a new structural steel beam mill in Sault Ste. Marie, Ontario, building maintenance, repair, and overhaul (MRO) infrastructure in Nova Scotia and British Columbia, and procuring domestic steel for submarine construction — anchoring CPSP in national supply chains and a local workforce. The long-term partnership reflects Hanwha’s commitment to shaping the next generation of Canadian industrial capability.

Aiming to accelerate large-scale shipbuilding and develop an embedded training hub, Hanwha Ocean signed an MOU with Ontario Shipyards and a Letter of Intent (LOI) with Mohawk College, forming a trilateral partnership anchored in Ontario. By investing in advanced infrastructure and next-generation manufacturing capability, Hanwha is helping position the province as a critical hub within Canada’s broader defense ecosystem, directly supporting the National Shipbuilding Strategy and the Royal Canadian Navy.