Hanwha has further expanded its industrial partnerships in Canada, announcing a series of strategic memoranda of understanding (MOUs) spanning steel, space, artificial intelligence, and advanced technologies in support of the Canadian Patrol Submarine Project (CPSP).
Signed on the sidelines of a visit to Toronto by a South Korean government and business delegation for industrial cooperation and investment discussions with Canadian companies, the MOUs highlight Hanwha’s long-term commitment to working with Canadian industry to support job creation, industrial development, and the strengthening of Canada’s sovereign defence, security and industrial capabilities, in line with national nation-building priorities.
The Republic of Korea views the CPSP as an opportunity to elevate the Canada–Korea relationship into a durable, whole-of-government strategic partnership spanning defence, industry, technology and security cooperation. This approach aligns with the Canada–Korea Free Trade Agreement, the Comprehensive Strategic Partnership, the Security and Defence Cooperation Partnership, and Canada’s Indo-Pacific Strategy.
Hanwha Ocean and Algoma Steel MOU for Canadian Steel Supply
Hanwha Ocean and Algoma Steel have entered into a binding MOU to establish a long-term strategic arrangement supporting the revitalisation of Canada’s steel sector and the creation of Canadian jobs.
The partnership is designed to anchor key elements of submarine construction and sustainment in Canada by leveraging Algoma’s domestic steelmaking capabilities and Canadian workforce, reinforcing Canada’s naval readiness and industrial sovereignty.
Under the MOU, Hanwha Ocean is expected to provide Algoma with an aggregate potential value of up to USD $250 million (approximately CAD $345 million). This includes support for the development of a new structural steel beam mill in Canada, as well as anticipated purchases of steel products for use in CPSP-related submarine construction and associated maintenance, repair and overhaul (MRO) infrastructure in Nova Scotia and British Columbia, where the submarine fleet will be fully supported throughout its lifecycle.
The beam mill investment would also enable Algoma to expand beyond defence applications, supplying steel for infrastructure, housing and road projects, opening new opportunities for Canadian workers in a market traditionally dominated by imports. “This partnership is about working side-by-side with Algoma as a leading Canadian steelmaker to build something lasting. By anchoring steel production, infrastructure, and long-term sustainment in Canada, we are committed to strengthening Canada’s industrial resilience and supporting a submarine capability that Canadians can rely on today and for generations.” Hee Cheul Kim, President & CEO, Hanwha Ocean “As we usher in a new era for Algoma with electric arc furnace steelmaking and modernised finishing capabilities, this strategic arrangement with Hanwha Ocean represents a foundational step forward in our diversification strategy.” Rajat Marwah, CEO, Algoma Steel
Hanwha Systems and Telesat: Secure LEO Satellite Communications
Hanwha Systems and Telesat have signed an MoU to collaborate on next-generation sovereign satellite connectivity solutions and user terminals compatible with Telesat Lightspeed, Telesat’s Low Earth Orbit (LEO) satellite network.
The cooperation focuses on secure, high-capacity and resilient satellite communications applicable to defence, maritime and advanced naval platforms, supporting both surface and submarine operations.
The collaboration builds on intergovernmental alignment between Canada and South Korea on next-generation LEO communications and advanced maritime platforms. Under the MoU, the companies will explore cooperation related to Korea’s K-LEO communications satellite constellation and defence user terminals compatible with both K-LEO and Telesat Lightspeed.“This collaboration brings together complementary resources and expertise to deliver next-generation, sovereign LEO communications capabilities for Canada, South Korea and allied partners.” Dan Goldberg, President and CEO, Telesat “By expanding partnerships with trusted global leaders, Hanwha Systems will continue to strengthen its position in the global market and advance its role as a key defence and space technology provider.” Son Jae-il, CEO, Hanwha Systems
Hanwha Systems and MDA Space: Defence Space Cooperation
Hanwha Systems and MDA Space have entered into an MoU to explore collaboration on advanced satellite technologies, including secure LEO communications aligned with sovereign defence and security requirements.
The partnership combines MDA Space’s AURORA™ software-defined satellite platform with Hanwha Systems’ expertise in defence electronics and space systems. While initially focused on sovereign defence satellite capabilities, the collaboration reflects broader cross-sector technology cooperation aligned with CPSP requirements, including secure communications, data resilience and command-and-control capabilities relevant to modern submarine operations.
Hanwha Ocean, Hanwha Systems and Cohere: AI-Enabled Submarines and Smart Shipyards
Hanwha Ocean, Hanwha Systems and Cohere have signed an MoU to explore collaboration on advanced artificial intelligence technologies in support of CPSP.
The partnership will focus on the joint development of AI models—including large language and multimodal models—to enhance submarine operations and shipyard efficiency. The collaboration leverages Hanwha Ocean’s naval domain expertise, Hanwha Systems’ defence integration capabilities, and Cohere’s secure enterprise AI technologies.
The initiative reinforces Hanwha’s broader cross-sector industrial cooperation strategy in Canada and its integration into the country’s technology ecosystem.
Hanwha Systems and PV Labs: Advanced EO/IR Capabilities
Hanwha Systems and PV Labs have entered into an MoU to jointly develop advanced electro-optical and infrared (EO/IR) tactical systems for defence and security applications.
Under the agreement, the companies will collaborate on enhancing EO/IR sensor capabilities, with Hanwha Systems supporting local development, system integration and production activities in Canada, including technology transfer to PV Labs. The jointly developed products will be marketed globally, supporting Canadian exports, skilled job creation and regional economic growth, particularly in Burlington, Ontario.
For Editorial Inquiries Contact:
Editor Kym Bergmann at kym.bergmann@venturamedia.net
For Advertising Inquiries Contact:
Group Sales Director Simon Hadfield at simon.hadfield@venturamedia.net
