Canadian Media: Canada Selects Germany's TKMS for Submarine Project

The Canadian government has selected Germany's ThyssenKrupp Marine Systems (TKMS) as the contractor for its next-generation submarine project, the Globe and Mail, a major Canadian daily, reported on July 6 (local time), citing two sources.

Canada plans to build up to 12 diesel-electric submarines to replace its aging Victoria-class fleet. TKMS and South Korea's Hanwha Ocean had been competing as shortlisted candidates.

The Canadian Patrol Submarine Project (CPSP) is estimated to be worth up to 60 trillion won, including construction costs and maintenance, repair, and overhaul (MRO) expenses for 30 years after deployment.

This marks the first time since the 1960s that Canada has purchased newly built submarines.

Canada has pledged to increase its defense spending to 5 percent of its gross domestic product (GDP) by 2035 to meet the NATO target set by U.S. President Donald Trump.

The Canadian government previously stated that both Hanwha and TKMS's proposals met the Navy's requirements, and that the final decision would depend on the economic benefits each company could provide to Canada.

The report noted that both the South Korean and German governments have actively supported their respective companies in a major promotional campaign, and that the Canadian government has leveraged this competitive landscape to secure investment commitments aligned with its "Canada-first" industrial policy.

An official announcement is scheduled to be made by the Canadian Prime Minister at 5:10 p.m. today (5:10 a.m. on July 7, Korean time).

Hanwha Ocean and the Defense Acquisition Program Administration stated that they have not received any notification regarding the decision from the Canadian government.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.