Bid for Canadian Submarine Project Falls Through; President Lee Vows Continued Efforts for K-Defense

[Anchor]

Hanwha Ocean has failed to be selected as the contractor for Canada's next-generation submarine project, a deal worth up to 60 trillion won. President Lee Jae-myung stated that "the bold challenge of K-Defense will continue," and has departed for Türkiye to engage in defense diplomacy at the NATO summit.

Reporter Kang Cheongwan has the story.

[Reporter]

Following the news that a German company, rather than South Korea's Hanwha Ocean, was ultimately selected for the 60 trillion won Canadian next-generation submarine project, President Lee Jae-myung posted a message on social media titled, "The bold challenge of K-Defense will continue."

He emphasized, "Our submarines have competed confidently with the world's leading submarine powers, proving their superior performance and technological prowess," adding, "Although we did not achieve the expected results in this Canadian submarine project, we have once again clearly demonstrated our potential to the international community."

President Lee stated, "The Republic of Korea will continue to take on bold challenges, and the government will do everything in its power, including research and development, export support, and strengthening international cooperation."

He also added that he extends his deep gratitude and respect to all those in the industry who have elevated the level of South Korea's defense industry in commemoration of Defense Industry Day, which falls tomorrow, July 8.

President Lee departed this morning (the 7th) for Ankara, Türkiye, the host city, to attend the NATO summit.

President Lee is scheduled to attend the NATO summit and the NATO Defense Industry Forum, one of the official events, where he will deliver a keynote speech at a session themed "Shared Values, Stronger Industrial Base."

The Presidential Office explained that this visit to NATO holds significance as it marks the beginning of full-scale efforts to promote defense cooperation with NATO allies, which represent the largest defense market, accounting for 55% of global defense spending.

Attention is also focused on whether President Lee will have another face-to-face meeting with U.S. President Donald Trump, who is also attending the NATO summit.

(Video reporting: Jung Sang-bo, Yoon Hyung | Video editing: Wi Won-yang)
※ Please note: This article was translated by AI and may contain errors.