Hanwha Group says it aims to create at least 200,000 jobs in Canada by 2040

South Korean conglomerate Hanwha Group aims to create at least 200,000 jobs in Canada by 2040 through cooperation across various sectors including shipbuilding, the company said, as it seeks to win a fiercely contested submarine contract.

Hanwha, whose businesses span defence to shipbuilding, will invest in Canadian industries ranging from shipbuilding to steel, artificial intelligence and aerospace, according to a statement released on Friday.

The company did not disclose the value of the long-term investment or give further details.