Hanwha Group Signs MOU with Alberta Government on Energy, Defense and Shipbuilding

South Korea's Hanwha Group signed a memorandum of understanding with the provincial government of Alberta in Canada on April 21, 2026, to pursue cooperation in energy, defense and shipbuilding, the group announced. The agreement, inked in Edmonton, aims to explore mutually beneficial investment opportunities and establish long-term cooperation across these sectors, according to Hanwha Group.

Hanwha Aerospace Co.

And Hanwha Power Co. will participate in the collaboration, focusing on energy, defense and shipbuilding supply chains. , the shipbuilding subsidiary of Hanwha Group, for Canada's Canadian Patrol Submarine Project.

6 billion, involves the potential procurement of up to 12 conventional diesel-electric submarines. Hanwha Ocean Co. is competing against Thyssenkrupp Marine Systems of Germany for the submarine project, which seeks to strengthen local industrial partnerships and economic collaboration.

The partnership with Alberta will support Canada's efforts to bolster its industrial capabilities and build a regional defense ecosystem, Hanwha Group stated. Alberta Premier Danielle Smith said the agreement demonstrates Alberta's competitiveness as a destination for global investment.

A signing ceremony for the memorandum of understanding took place in Edmonton on April 21, 2026, with representatives from Hanwha Group and the Alberta government present.

Said the group will leverage its capabilities to deliver tangible outcomes across multiple sectors through the partnership. Yonhap reported these details from Hanwha Group's announcement.