HD Hyundai has mobilized all its affiliates in a concerted push to win the KRW 60 trillion Canadian Patrol Submarine Project (CPSP).

HD Hyundai announced on the 5th that on the 2nd (local time) it attended the Korea-Canada Energy and Resources Supply Chain Cooperation Forum held in Ottawa, Canada, co-hosted by Korea’s Ministry of Trade, Industry and Energy and Canada’s Department of Natural Resources, to support its bid for the Canadian submarine project.

HD Hyundai Vice Chairman Cho Seok met with Canadian Senator Marty Deacon, Chair of the Standing Senate Committee on National Security, Defence and Veterans Affairs (SECD), to highlight the excellence of Korean submarines and the company’s world No. 1 shipbuilding technology. He also pledged that HD Hyundai would take the lead in future shipbuilding and defense industry cooperation between Korea and Canada. SECD is a standing committee of the Canadian Senate with authority to review and oversee defense policy, national security, and defense procurement overall.

At the forum, HD Hyundai Oilbank stated, “Canada is the optimal partner for diversifying Korea’s resource supply chain,” and emphasized, “If HD Hyundai Oilbank’s technology, backed by Korea’s top-tier upgrading facilities, is combined with Canada’s heavy and extra-heavy crude oil, it will be possible to produce high value-added petroleum products.”

An HD Construction Equipment division representative said, “Many Korean companies are expected to participate in mining investment in Canada,” and proposed, “A matching fund will be established so that HD Hyundai’s autonomous and automated construction equipment solutions can be utilized as testbeds in mining and road construction projects in Canada that receive government funding.” HD Construction Equipment is one of the key partners in Canada’s mining and road infrastructure development. Last year, it exported about 800 units of construction equipment, including excavators and forklifts, to Canada alone. This year, it plans to expand exports to about 900 units.

HD Hyundai Heavy Industries proposed to Canada its capabilities in submarine construction and maintenance, cooperation with local shipyards, and offset trade packages worth several KRW trillion.

HD Hyundai Oilbank, the group’s energy affiliate, will also cooperate with Canadian crude oil companies to import crude oil worth several KRW trillion during the submarine program period and promote joint research and development in cutting-edge fields such as shipbuilding, artificial intelligence (AI), and bio with major Canadian universities and research institutions.

HD Hyundai Heavy Industries proposed cooperation measures covering naval vessel operation and maintenance and the shipbuilding industry overall. HD Hyundai Heavy Industries has built its construction and development capabilities through the Sohn Won-il-class (KSS-II, 1,600-ton class) and Dosan Ahn Chang-ho-class (KSS-III, 3,000-ton class) submarine programs. In fact, in 2007 it became the first country outside Germany to build and deliver a Sohn Won-il-class submarine, and last year it also won a performance improvement contract to upgrade the aging Sohn Won-il-class submarines’ integrated combat systems with the latest technology.

In April 2024, it delivered the Shin Chae-ho, a Dosan Ahn Chang-ho-class submarine, to the Navy, thereby gaining recognition for its construction capabilities in the 3,000-ton class as well. The Shin Chae-ho is a submarine equipped with submarine-launched ballistic missile (SLBM) capabilities and is the first among its class to be delivered on schedule.

An HD Hyundai representative said, “HD Hyundai is proposing various packages for industrial cooperation linked to the CPSP project,” adding, “With our world-class naval vessel construction capabilities, we can, together with Hanwha Ocean as part of ‘Team Korea’, provide submarines with guaranteed performance within the timeframe desired by the Canadian government.”

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