South Korean delegation heads to Canada to lobby for submarine project

Last week, TKMS CEO Oliver Burkhard told Reuters the German company is in talks with Norwegian and German companies to offer a multi-billion-dollar investment package to Canada in a bid to win the tender.

Hanwha Group also said on Friday it aimed to create a large number of jobs in Canada by 2040, through cooperation across various sectors, including submarines.

Canada, a NATO founding member, has the longest coastline in the world including the Arctic and plans to buy new submarines to modernise underwater surveillance and deterrence as its four-vessel fleet from the 1990s grows increasingly obsolete.

(Reporting by Jack Kim, Joyce Lee and Hyunjoo Jin; Editing by Ed Davies and Michael Perry)