Government of Ontario convenes Industry Day as Canada’s Defence Industrial Strategy moves into submarine program execution
Press Release + Noah Note
Supplier engagement led by Hanwha Ocean reflects shift from policy to execution under Canada’s Defence Industrial Strategy
April 17, 2026, Toronto, Ontario
As Canada advances its Defence Industrial Strategy (DIS), early signs of execution are beginning to take shape across the country’s industrial base, particularly in support of major programs such as the Canadian Patrol Submarine Project (CPSP). Canada’s approach to CPSP reflects a broader shift in defence procurement - positioning major programs not only as acquisitions, but as opportunities to build domestic capability, strengthen supply chains, and generate long-term economic value.
Reflecting this direction, the Government of Ontario, through its Ministry of Economic Development, Job Creation and Trade, hosted an Industry and Suppliers Day for Hanwha at the Ontario Investment and Trade Centre in Toronto on April 16. The engagement brought together Ontario companies and academic institutions to explore potential involvement in CPSP, with participation from Korean companies, namely Hanwha Ocean, Hanwha Systems, and LIG Nex1 Defense & Aerospace (LIG D&A). A focused group was invited for direct engagement based on their relevance to submarine design, engineering, production, and long-term sustainment requirements. More than fifty business-to-business meetings were conducted, creating direct pathways for integrating Canadian capabilities into a long-term submarine program.
The Honourable Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, attended the event and addressed participants, underscoring the province’s role as a national hub for advanced manufacturing, shipbuilding, defence, high technology, and research and development.
The event in Toronto forms part of a broader, nationwide effort by Hanwha Ocean to build long-term industrial partnerships across Canada. It has been advancing this effort through a growing network of partnerships with Canadian companies, research institutions, and industry stakeholders, aimed at establishing the foundations of a long-term industrial ecosystem. These engagements are being formalized through teaming agreements and memoranda of understanding (MOUs) that define practical areas of collaboration across submarine capability, sustainment, and industrial development.
To date, Hanwha Ocean has established strategic partnerships with many leading Ontario-based companies. These include Ontario Shipyards and Algoma Steel. Hanwha’s agreement with Ontario Shipyards focuses on strengthening large-scale shipbuilding capability in the province through technical and operational support, alongside workforce development initiatives anchored by a shipyard-based training hub in collaboration with Mohawk College. Hanwha’s MOU with Algoma Steel supports the use of Canadian-produced steel in future naval programs, reinforcing domestic industrial participation and job creation.
Hanwha Ocean is supported by its affiliate Hanwha Systems and works in collaboration with LIG Nex1 Defense & Aerospace, combining shipbuilding, combat systems, and advanced defence technologies. Together, these capabilities are being aligned to support CPSP requirements and to enable long-term sustainment, technology transfer, and industrial collaboration in Canada.
Discussions held during the Industry and Suppliers Day further build on this momentum, focusing on expanding supplier participation, deepening industrial collaboration, and identifying pathways to integrate Ontario-based capabilities into long-term sustainment and supply chain build-up. These efforts support the development of sovereign in-service support (ISS) capabilities in Canada and enable long-term industrial capacity aligned with CPSP requirements.
Quotes
“Ontario is central to the industrial base that will build, sustain and evolve Canada’s future submarine fleet. Today’s event is about listening as much as it is about presenting. We are here to learn about Ontario’s capabilities, to identify where our programs can be strengthened by Canadian innovation, and to begin the long-term relationships that a multi-decade submarine enterprise requires.”
Steve SK Jeong, Senior Executive Vice President and Head of Naval Ship International Business, Hanwha Ocean
“Canadian content is not an afterthought in our CPSP approach — it is the foundation. We have made firm commitments on workforce development, technology transfer, and in-country sustainment, and Ontario’s suppliers, researchers, and Indigenous partners will be integral to delivering on those commitments.”
Glenn Copeland, CEO, Hanwha Defence Canada
About the KSS-III Canadian Patrol Submarine (www.KSS-III.ca)
Hanwha Ocean’s KSS-III is a proven, in-service, in-active production submarine that fully meets and exceeds all requirements for the Canadian Patrol Submarine Project (CPSP). These include superior underwater surveillance capability and deployability in the Arctic with extended range and endurance that will provide stealth, persistence and lethality to ensure that Canada can detect, track, deter and, if necessary, defeat adversaries in all 3 of its oceans.
Equipped with Lithium-ion batteries and an Air Independent Propulsion (AIP) system, the KSS-III offers the longest submerged endurance among any conventional submarine – exceeding 7,000 nautical miles. It is outfitted with both a state-of-the-art sonar system and acoustic tiles, offering outstanding target detection capability and advanced stealth performance. The platform is fully optimized for Anti-Submarine Warfare, Anti-Surface Warfare, Intelligence, Surveillance and Reconnaissance (ISR), Minelaying, and Special Operations Forces (SOF) support.
Importantly, Hanwha Ocean has the fastest delivery schedule, able to deliver four KSS-III submarines to fully replace Canada’s current Victoria Class fleet before 2035 if on contract in 2026. Earlier retirement of the Victoria Class fleet will result in estimated savings of approximately $1 Billion on maintenance and support costs. The additional 8 submarines will be delivered at a rate of one per year, meaning the entire fleet of 12 submarines will be delivered to Canada by 2043. No other option can come anywhere close to this delivery schedule.
About Hanwha Ocean (www.HanwhaOcean.com)
Hanwha Ocean is a leading global shipbuilder with more than four decades of experience in complex naval and commercial shipbuilding programs. Supported by its large-scale, integrated shipyard in Geoje, South Korea that spans 5-square kilometers and has more than 31,000 employees, the company combines proven industrial capacity with operational experience to deliver modern, in-service naval platforms backed by a resilient through-life support model.
Since its establishment in 1973, Hanwha Ocean has delivered more than 1,400 vessels worldwide and has built deep expertise in the design, construction and sustainment of submarines and surface combatants for the Republic of Korea Navy. The company builds approximately 45 commercial and naval ships each year.
Hanwha Group, a Fortune 500 company with more than 100,000 employees and 91 subsidiaries globally, is the Republic of Korea’s leading defence company. Other Hanwha business areas include aerospace and mechatronics, energy and ocean solutions, finance, and retail and services.
Hanwha is committed to establishing a robust and long-term presence in Canada in several strategic areas that will create jobs and economic growth, accelerate Canada’s domestic defence capabilities, and enhance cooperation, partnership and supply chains between Canada and South Korea – a relationship that is becoming increasingly important, and one that supports the objectives of Canada’s Indo-Pacific Strategy.
Hanwha has teaming agreements and MOUs in place with more than 30 Canadian companies.
Noah Note: A quick note, there is a good look here at Hanwha’s existing partners. Some like AKA were very quiet in joining Team Korea, so it is very easy to have missed them.