Hanwha Ocean: "Canadian submarine could not overcome the NATO alliance barrier... We will find a path for K-defense industry to leap forward"

Courtesy of the Navy [Financial News] Hanwha Ocean ultimately failed to overcome the high hurdle of being a "NATO member" in the Canadian Next Generation Submarine Project (CPSP), which has a total project cost of 60 trillion won. The bidding war concluded with Germany's ThyssenKrupp Marine Systems (TKMS) being selected as the final preferred bidder.
Regarding this, Hanwha Ocean stated on the 7th, "We did our utmost to win the Canadian Next-Generation Submarine Program (CPSP), but we did not achieve the expected results. We poured our heart and soul into securing the contract based on the government's full support, the outstanding performance of our submarines, and the Navy's successful submarine operational experience, but we were unable to overcome the barrier of the NATO alliance.
" The company added, "We approached this with the attitude of doing our absolute best, so we are left with much regret, but we believe this result is entirely due to Hanwha Ocean's shortcomings. " Hanwha Ocean maintains the position that it will thoroughly analyze the challenges identified through this bidding competition to devise concrete alternatives and will definitely find a way for the 'K-maritime defense industry' to take a further leap forward in the global market.
On the 6th (local time), Canadian Prime Minister Mark Carney [regarding] the CPSP project at the Halifax Naval Base in Nova Scotia It was announced that Germany's TKMS was finally selected as the preferred bidder. This conclusion was reached after a fierce competition between South Korea and Germany over the economic and security benefits that would bring to Canada over the past 10 months.
However, Prime Minister Carney added that if negotiations with TKMS fail, he reserves the right to initiate negotiations with the next-ranked candidate, Hanwha Ocean. The CPSP is a massive defense project to replace the Canadian Navy's aging Victoria-class submarines with next-generation submarines.
When combining construction costs and maintenance, repair, and overhaul (MRO) costs that will continue for the next 30 to 50 years, the total project cost approaches 60 trillion won. From the outset, the prevailing analysis in the defense industry was that Germany, a NATO member, held the upper hand.
This is because, from the perspective of Canada, which has recently been pursuing the strengthening of Arctic security and the expansion of interoperability among NATO member states as key defense priorities, the 212CD platform, jointly developed by Germany and Norway, received high marks in terms of connectivity with the NATO operational system. Nevertheless, Hanwha Ocean achieved a remarkable feat by overturning the unfavorable situation through an all-encompassing "package strategy" that went beyond simple vessel supply, and making it onto the final shortlist.
It is evaluated that the company performed well by forming an organic "one team" with the government and HD Hyundai Heavy Industries, engaging in a fierce battle until the very end. On the 1st, Kang Hoon-sik, Chief of Staff to the President, commented on the possibility of South Korea winning the Canadian submarine order, stating, "If asked in terms of a score, it is about a 50-50 situation.
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Courtesy of the Navy [Financial News] Hanwha Ocean ultimately failed to overcome the high hurdle of being a "NATO member" in the Canadian Next Generation Submarine Project (CPSP), which has a total project cost of 60 trillion won. The bidding war concluded with Germany's ThyssenKrupp Marine Systems (TKMS) being selected as the final preferred bidder.
ggg@fnnews.com Ganggugwi Reporter