South Korea has lost a multibillion-dollar submarine contract with Canada to Germany’s Thyssenkrupp Marine Systems (TKMS), which was selected as the preferred supplier for a programme valued at approximately US$40 billion. The project involves building up to 12 diesel-electric submarines along with long-term maintenance and support.
Canadian Prime Minister Mark Carney announced the decision, stating, “I am pleased to announce that Canada has selected TKMS as the preferred supplier for Canada’s patrol submarine project.” However, Canada reserved the right to negotiate with South Korea’s Hanwha Ocean consortium if talks with TKMS fail.
Military experts have noted that South Korea’s strong performance in the bidding process has enhanced its reputation as a serious competitor in the global submarine market. The close contest with Germany suggests South Korea’s bid was highly competitive despite geopolitical factors favoring Germany.
Moon Keun-sik, an adjunct professor at Hanyang University’s Graduate School of Public Policy, highlighted South Korea’s competitive edge, saying, “With regard to performance and cost, Canadian authorities expressed satisfaction.”
This outcome is seen as a significant milestone for South Korea, demonstrating its ability to challenge established undersea warfare powers on the international stage.
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