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President Yoon Suk-yeol Shakes Hands with Canadian Prime Minister Justin Trudeau at NATO Summit in Washington |
[Alpha Biz= Reporter Kim Jisun] The South Korean government is currently discussing the participation of Korean companies in Canada’s submarine acquisition project, estimated to cost up to 60 trillion won.
A representative from the Presidential Office stated on the 30th during a press briefing at the Yongsan government complex, “Canada plans to acquire at least 8 to 12 submarines of 3,000 tons each. The estimated project cost alone is expected to exceed 20 trillion won, and when including subsequent military support, the total size of the project could reach 60 trillion won.” The official also noted that it is a “massive project comparable to Poland’s defense exports (approximately $44.2 billion).”
The representative mentioned that as of last month, countries showing interest in the project include South Korea, France, Germany, Spain, and Sweden, and that information requests have already been made. It is anticipated that contracts will be finalized around 2026 to 2027 following the bidding process.
Additionally, President Yoon Suk-yeol reportedly discussed defense cooperation during a phone call with Canadian Prime Minister Justin Trudeau earlier that morning.
In the call, Prime Minister Trudeau expressed his awareness of the excellence of South Korea's defense industry, stating, “I look forward to collaborating with South Korea, a strategic partner that shares our values.”
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
