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South Korea loses Canadian submarine bid to German firm
A South Korean consortium lost a Canadian submarine procurement contract valued at up to 60 trillion won to a German company. The president expressed disappointment but said the bid demonstrated the country's submarine technology.
Jul 7, 2:25 AM·1m read1 source
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A South Korean consortium lost a Canadian submarine procurement contract valued at up to 60 trillion won to Germany's Thyssenkrupp Marine Systems. The president posted on Facebook that the submarines had proven their performance through competition with global submarine powers.
He added that the outcome still showed South Korea's potential to the international community. The president pledged continued government support for research, export assistance, and international cooperation to advance the country's submarine capabilities.
Foreign ministry response The foreign ministry said South Korea respects Canada's decision and will continue efforts to strengthen defense and other cooperation with Canada. A ministry spokesperson told reporters that the bidding process showcased the submarines' performance and the value of the proposed industrial cooperation package, which received positive recognition from Canada and industry stakeholders.
The ministry added that it will continue to support the global expansion of South Korea's defense industry and pursue cooperation with Canada in defense, the arms industry, energy, and critical minerals.
