South Korean Industry Minister Meets Canadian Officials on Submarine Bid

Industry Minister Kim Jung-kwan met with Canadian government and industry officials this week in Ottawa to request support for a South Korean consortium competing to build up to 12 conventionally powered submarines for Canada. The project is valued at an estimated 60 trillion won ($41.4 billion).

The minister also discussed ways to expand bilateral industrial and resource partnerships, according to the Ministry of Trade, Industry and Resources. Kim met with his Canadian counterpart Melanie Joly on Tuesday to review progress on partnership projects linked to the submarine program.

A South Korean automaker has suggested collaboration on a hydrogen mobility ecosystem in Canada. On Wednesday, Kim met with Canadian lawmaker Hassan Yussuff to discuss strategic cooperation tied to the submarine project.

Kim additionally met with Canadian Energy Minister Tim Hodgson to explore deeper cooperation in energy and resources amid global supply chain volatility. During the visit, two South Korean research institutes signed memorandums of understanding with Canadian entities on industrial technologies for ice breakers and related areas.

"Winning Canada's submarine project would represent more than just a defense procurement deal for South Korea as it would become an important turning point in building a long-term partnership between the two countries," Kim said in a press release. He pledged continued efforts to help the consortium secure the contract.

The Canadian government is expected to announce the preferred bidder for the project in June.