Korean Air Supports Hanwha Ocean's Canadian Submarine Bid Against TKMS
Korean Air is poised to support Hanwha Ocean's bid for a $43 billion contract to supply 12 patrol submarines to Canada, marking a significant milestone in Korea's defense exports. The collaboration, which includes a trilateral agreement with Babcock, aims to enhance local industrial capabilities and job creation in Canada. Details of the partnership are still in development, with plans for Korean Air to purchase additional aircraft from Bombardier.
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Korean Air is open to supporting Hanwha Ocean's consortium in its bid for Canada's order of 12 patrol submarines, valued at 60 billion Canadian dollars ($43 billion). This deal would represent the largest single contract in Korea's defense export history.
Korean Air plans to join senior government officials and Hanwha executives on a visit to Canada. Although cooperation details are still pending, it is anticipated that Korean Air will purchase more aircraft from Bombardier.
Meanwhile, Hanwha Ocean and Babcock have proposed a trilateral agreement for the submarine project, emphasizing long-term industrial capability and job creation in Canada. They signed an exclusive teaming agreement last September, where Hanwha will provide the KSS-III submarine platform and Babcock will offer sustainment and lifecycle support. Their collaboration aims to align with Canadian interests in defense and local workforce development.
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