Canada to Decide Submarine Contract: South Korea vs. Germany
Canada's Patrol Submarine Project (CPSP) is valued at 60 trillion won ($40 billion) and aims to replace aging submarines. A final contractor will be selected between South Korea's Hanwha Ocean and HD Hyundai Heavy Industries and Germany's TKMS by early July 2026.
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The Canadian Patrol Submarine Project (CPSP) could reach 60 trillion won ($40 billion), aiming to replace four Victoria-class submarines by the mid-to-late 2030s. Canada will select a contractor by early July 2026, with Hanwha Ocean and HD Hyundai Heavy Industries from South Korea competing against Germany's TKMS.
The CPSP includes approximately 20 trillion won for submarine construction and 40 trillion won for maintenance over 30 years. Both bidders emphasize operational support and local economic impacts, with Canada prioritizing maintenance systems in evaluation.
Government support for South Korea is notable, with officials visiting Canada to bolster the bid. The outcome will significantly influence South Korea's maritime defense export trajectory.
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