Telesat and Hanwha sign strategic cooperation agreement for next-generation space and marine technologies
Press Release + Noah Note
OTTAWA, Ontario, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Telesat (Nasdaq and TSX: TSAT), one of the world’s largest and most innovative satellite operators, and Hanwha Systems Co, Ltd (Hanwha), a leading Korean corporation of the Hanwha Group, today announced the signing of a memorandum of understanding (MoU) to jointly collaborate on next-generation, sovereign satellite connectivity solutions, as well as user terminals that will be compatible with Telesat’s Low Earth Orbit (LEO) network, Telesat Lightspeed.
The MOU follows the signing of a Letter of Intent between the Government of Canada through the Canadian Commercial Corporation (CCC) and the Government of Korea through the Defense Acquisition Program Administration (DAPA) to pursue a structured initiative on next-generation commercial Low earth Orbit (LEO) satellite communications and advanced maritime platforms.
Hanwha and Telesat will explore a range of cooperative programs, notably the Government of Korea’s LEO communications satellite constellation (K-LEO) and defense user terminals that are compatible with K-LEO and Telesat Lightspeed. Additionally, the companies are cooperating on the Canadian Patrol Submarine Project (CPSP), where Hanwha intends to include significant, multi-year Telesat Lightspeed services as a key strategic aspect of its bid in its Industrial and Economic Benefits to Canada Proposal Annex. Hanwha will also look to apply Telesat Lightspeed services to various platforms within its weapon systems as a means of exploring potential business collaboration opportunities throughout the global defense market.
“This collaboration brings together complementary resources and expertise to deliver next‑generation, sovereign LEO communications capabilities for Canada, South Korea, and our allied partners,” stated Dan Goldberg, Telesat’s President and CEO. “The secure, high‑performance Telesat Lightspeed architecture—paired with Hanwha’s advanced systems expertise—positions us to support critical defense missions and national priorities with unmatched reliability.”
“This partnership enhances our ability to deliver secure, sovereign LEO communications for defense and maritime operations,” said Jae-il Son, President and CEO of Hanwha Systems. “By expanding partnerships with trusted global leaders, Hanwha Systems will continue to strengthen its position in the global market and advance its role as a key defense and space technology provider,” he added.
About Telesat
Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat (Nasdaq and TSX: TSAT) is one of the largest and most innovative global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world’s most complex communications challenges, providing powerful advantages that improve their operations and drive profitable growth.
Continuously innovating to meet the connectivity demands of the future, Telesat Lightspeed, the company’s state-of-the-art Low Earth Orbit (LEO) satellite network, has been optimized to meet the rigorous requirements of telecom, government, maritime and aeronautical customers. Telesat Lightspeed will redefine global satellite connectivity with ubiquitous, affordable, high-capacity, secure and resilient links with fibre-like speeds. For updates on Telesat, follow us on LinkedIn, X, or visit www.telesat.com.
About Hanwha Systems
Hanwha Systems is a leading South Korean defense and ICT company specializing in advanced radar, command and control, satellite, and defense electronics solutions. Leveraging strong systems integration capabilities and cutting-edge technologies, the company supports national security and global defense programs across land, sea, air, cyber, and space domains.
Hanwha Systems is the representative company of the Republic of Korea with world-class companies in various business areas based on avionics and space, security and safety, and information systems service. Furthermore, it is positioned as the representative avionics, defense, and ICT specialty company of the nation as the member company of Hanwha Group possessing 320 or more global business bases.
Hanwha Systems maintain the strong reliability and partnership with numerous customers and is recognized as a global partner. Hanwha Systems provides the various service solutions based on the ICT technology such as advanced sensors and networks. Hanwha Systems manages Defense Division and ICT Division with the customer value being the top priority.
Noah Note: Hanwha is not playing today. I knew there would be some announcements, but they're everywhere. The delegation isnt even here yet! Anyways, targeting Telesat and MDA is good stuff. Space will play a major role in the upcoming Defence Industrial Strategy, and it's an area that we desperately want to do more in, to see more investment.
Targetting that is smart, and I expect we will see increqsed German commitment over the next few weeks in this area as well. It's a smart, high-value industry to target, esepcially when talking capacity for Lightspeed, something both Telesat and the Feds want to see more of.
And the plot thickens!