Hanwha Ocean Establishes 9 New Partnerships to advance industrial, technology and research cooperation between Canada and Korea as part of the Canadian Patrol Submarine Project (CPSP)
Press Release
The announcements were made at Hanwha’s BC Innovation Day in the wake of the arrival of the Korean Navy’s KSS-III submarine at CFB Esquimalt
The arrival of the Korean Navy KSS-III in Canada demonstrates that the submarine is tested, proven, in-service, in-production, and is the lowest risk and fastest delivery option that meets and exceeds all requirements for CPSP
Hanwha now has agreements in place with more than 70 Canadian organizations which is projected to result in more than $70 Billion in trade and investment, more than 25,000 jobs annually and more than $100 billion in GDP if selected for CPSP
VICTORIA, British Columbia, May 25, 2026 - Hanwha today announced a series of new partnerships, memorandums of understanding (MOUs), and collaborative research initiatives with Canadian companies, universities, and research institutions across a range of sectors including critical minerals, energy, advanced manufacturing, Arctic technologies, artificial intelligence, and digital infrastructure.
The agreements were announced during Hanwha’s BC Innovation Day held in Victoria, British Columbia, which brought together more than 250 participants representing over 100 companies, organizations and institutions from Canada and Korea.
The event took place two days after the arrival of the Korean Navy’s KSS-III submarine at CFB Esquimalt. The KSS-III submarine is tested, proven, in-service, in-active production, and is the lowest risk and fastest delivery option that fully meets and exceeds all requirements for CPSP.
The event featured participation from His Excellency Ki-Mo Lim, Ambassador of the Republic of Korea to Canada; Ravi Kahlon, British Columbia’s Minister of Jobs and Economic Growth; Paul Choi, Parliamentary Secretary for Asia-Pacific Trade for British Columbia; Jennifer Blatherwick, Parliamentary Secretary for Gender Equity for British Columbia; and Alex Rueben, CEO of the Association of British Columbia Defence and Marine Industries (ABCDMI), alongside hundreds of representatives from Canada’s defence, industrial, academic, energy, and technology sectors.
“Canada possesses exceptional strengths across shipbuilding, Arctic research, advanced manufacturing, energy, artificial intelligence, and critical minerals,” said Hee Cheul (Charles) Kim, President & CEO of Hanwha Ocean. “Through these partnerships, we are proud to deepen our collaboration with Canadian industry, academia, and research organizations while supporting innovation, workforce development, industrial growth, and stronger Canada–Korea cooperation.”
The agreements announced at BC Innovation Day span strategic investment cooperation, Arctic and maritime research, advanced manufacturing technologies, autonomous systems, workforce development, and next-generation energy and digital infrastructure initiatives.
Industry and Strategic Investment Collaboration
Defense Metals
Hanwha Ocean and Hanwha Corporation Global Division signed an MOU with Defense Metals to explore long-term rare earth supply cooperation, strategic investment opportunities, and downstream collaboration related to critical minerals and supply chain development in Canada.
Azure Sustainable Fuels
Hanwha Ocean signed an MOU with Azure Sustainable Fuels to explore potential investment opportunities supporting the growth, commercialization, and global expansion of sustainable aviation fuel (SAF) technologies in Canada.
Skeena Data Centres
Hanwha Energy USA Holdings and Skeena Data Centers signed an MOU to explore cooperation on digital infrastructure and energy development projects in British Columbia, including potential investment in data center facilities and related energy infrastructure.
Research, Innovation, and Academic Cooperation
Hanwha Ocean also signed a series of MOUs with leading Canadian universities and technology organizations to establish frameworks for collaboration in Arctic technologies, autonomous systems, advanced manufacturing, intelligent automation, maritime engineering, and workforce development.
Participating institutions included:
Novarc Technologies
Welding automation and AI-enabled manufacturing technologies for advanced shipbuilding applications.
Simon Fraser University (SFU)
Arctic-capable vessel technologies, autonomous systems, sustainable energy technologies, and intelligent automation.
University of British Columbia (UBC)
Advanced materials, Arctic maritime engineering, and intelligent vessel technologies.
Ocean Networks Canada / University of Victoria (UVic)
Arctic environmental information research and applications related to autonomous navigation technologies.
Memorial University of Newfoundland (MUN)
Arctic navigation systems, intelligent automation, and next-generation icebreaker technologies.
University of Waterloo
Undersea and Arctic surveillance, advanced materials, autonomous systems, and intelligent ship technologies.
In addition, Hanwha Ocean, Memorial University, and Canada’s National Research Council (NRC) announced a collaborative research agreement focused on the development of underwater sensing technologies related to ship-ice interaction monitoring and Arctic maritime operations.
The event also featured business-to-business meetings between Canadian organizations and Hanwha affiliates, spanning shipbuilding, aerospace, energy, systems, finance, and advanced manufacturing sectors.
Hanwha is committed to building a long-term partnership with Canada and Canadian industry across a range of strategic sectors, including shipbuilding, defence, Arctic technologies, energy, critical minerals, aerospace, advanced manufacturing, artificial intelligence, and digital infrastructure. Through these collaborations, Hanwha aims to support Canadian innovation, workforce development, economic growth, and sovereign industrial capability, while strengthening Canada–Korea cooperation in support of the objectives of Canada’s Indo-Pacific Strategy and broader industrial priorities.
To date, Hanwha has established teaming agreements, memorandums of understanding, research partnerships, and other forms of collaboration with more than 70 Canadian companies, institutions, universities, and research organizations across the country. These include partnerships with organizations such as Automotive Parts Manufacturers' Association (APMA), Algoma Steel, AtkinsRéalis, Cohere, CAE, MDA Space, Ontario Shipyards, PCL Construction, Telesat, Dalhousie University, Mohawk College, the University of British Columbia, Memorial University of Newfoundland, and the University of Waterloo. A list of Canadian partners and collaborations is available at www.kss-iii.ca/canadian-partners/.
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.
The KSS-III is the world’s first diesel-electric submarine class to integrate both Air Independent Propulsion (AIP) technology and lithium-ion battery systems, enabling exceptional submerged endurance and operational flexibility. The platform also incorporates advanced acoustic quieting technologies designed to minimize underwater radiated noise, alongside a highly capable combat system architecture able to deploy a broad range of weapons systems, including torpedoes and cruise missiles.
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 is committed to establishing a robust and long-term partnership with the Government of Canada and Canadian industry in several strategic areas that will create jobs and economic growth, accelerate Canada’s 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, MOUs and contracts in place with more 70 Canadian companies and institutions, including those listed here:
www.kss-iii.ca/canadian-partners/.