Winner of Canada’s Submarine Project Expected to Be Announced July 6

▲ Jangbogo-III Batch-II Submarine

The winner of the Canadian Navy’s project to acquire 12 next-generation submarines is scheduled to be announced on July 6, local time.

The Globe and Mail, a leading Canadian newspaper, reported on July 5, citing multiple government sources, that Canadian Prime Minister Mark Carney is set to officially announce whether South Korea or Germany has won the Canadian Patrol Submarine Project (CPSP) contract on July 6.

Immediately following the announcement, Prime Minister Carney is scheduled to depart for Türkiye to attend the NATO summit.

The Prime Minister's Office of Canada announced that Prime Minister Carney will deliver an address in Halifax, Nova Scotia, at 5:10 p.m. local time on July 6, regarding "new measures to make Canada safer, more resilient, and more prosperous."

Halifax is a port city in eastern Canada that hosts a major naval base.

The Globe and Mail observed that this announcement is expected to be the stage for designating a "preferred bidder" before the actual final contract is signed, and that negotiations on detailed terms could take several years.

The CPSP is a massive project to introduce up to 12 diesel-electric submarines to replace the aging Victoria-class fleet.

The project is estimated to be worth up to 60 trillion won, including the cost of submarine construction and maintenance, repair, and overhaul (MRO) for 30 years after acquisition.

Currently, Hanwha Ocean and Germany's ThyssenKrupp Marine Systems (TKMS) are competing as qualified candidates.

The media outlet reported that if Hanwha Ocean is selected, it would mark the first time Canada has acquired a major weapons system from a non-Western company.

(Photo courtesy of Hanwha Ocean, Yonhap News)

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