The German government has expressed optimism that it can outperform South Korea, its competitor, in the Canadian Patrol Submarine Project (CPSP).

According to the German news agency dpa, Lars Klingbeil, the German Vice Chancellor and Minister of Finance, visited the facilities of German shipbuilder ThyssenKrupp Marine Systems (TKMS) on July 3 (local time) and stated, "The entire German federal government is conducting an all-out campaign to ensure the success of defense cooperation with Canada."

Highlighting the high-quality production capabilities Germany can offer, Klingbeil said, "In many respects, we are in a very favorable position."

Oliver Burkhard, CEO of TKMS, also stated, "I believe we have a very good chance of winning the contract," citing the interoperability of naval assets among NATO allies as their strongest advantage.

Burkhard emphasized that if the deal is finalized, "it would be the largest contract in the history of conventional submarines signed between NATO allies."

Both South Korea and Germany are making all-out efforts, with their respective governments actively involved, to secure the CPSP.

The CPSP is a major project to acquire up to 12 diesel-electric submarines to replace Canada's aging Victoria-class fleet.

The project is estimated to be worth up to 60 trillion won, including the cost of construction and 30 years of maintenance, repair, and operational expenses following delivery.

Currently, Hanwha Ocean and TKMS are the qualified candidates competing for the project.

Previously, Kang Hoon-sik, Chief of Staff to the President, recently described the situation regarding the project as "about 50-50."

Kang explained, "Canada and South Korea have a completely symmetrical structure, which offers many opportunities for a 'win-win' scenario. On the other hand, our competitor, Germany, has the advantage of being a leading nation in submarine technology and, above all, a core member of NATO. Canada will be weighing these factors."

(Photo courtesy of Hanwha Ocean, Yonhap News)