Press Release
Canada’s largest construction general contractor with significant experience delivering defence and maritime projects across the country joins Hanwha Ocean’s KSS-III Canadian Patrol Submarine Team
Hanwha Ocean of South Korea has signed a Memorandum of Understanding (MOU) with PCL Construction for cooperation on infrastructure development for the Canadian Patrol Submarine Project.
In August 2025, Hanwha Ocean’s KSS-III was selected by the Government of Canada as a qualified supplier for the Canadian Patrol Submarine Project (CPSP). The KSS-III is a proven, in-service, in-active production submarine that fully meets and exceeds all High-Level Mandatory Requirements (HLMRs) set by the Government of Canada for CPSP. These include superior underwater surveillance capability and deployability in the Arctic with extended range and endurance that will provide stealth, persistence and lethality to ensure that Canada can detect, track, deter and, if necessary, defeat adversaries in all 3 of its oceans.
Importantly, Hanwha Ocean has the fastest delivery schedule, able to deliver four KSS-III submarines to fully replace Canada’s current Victoria Class fleet before 2035 if on contract in 2026. Earlier retirement of the Victoria Class fleet will result in estimated savings of approximately $1 Billion on maintenance and support costs. The additional 8 submarines will be delivered at a rate of one per year, meaning the entire fleet of 12 submarines will be delivered to Canada by 2043. No other option can come anywhere close to this delivery schedule.
Hanwha is commitment to establishing a robust and long-term strategic partnership with the Government of Canada and Canadian industry in the areas of defence, space, sustainable energy and critical minerals that will create jobs and economic growth, accelerate Canada’s defence capabilities, and enhance cooperation, partnership and supply chains between Canada and South Korea – a relationship that is becoming more and more important, and one that supports the objectives of Canada’s Indo-Pacific Strategy.
Since 2023, Hanwha Ocean has signed Teaming Agreements and MOUs with more than a dozen Canadian companies, including Babcock Canada, Blackberry, CAE, Curtiss-Wright Indal Technologies, Des Nedhe Group, Gastops, J Squared Technologies, L3Harris Canada and ModestTree for long-term cooperation on the Canadian Patrol Submarine Project, and has entered into contracts with two Canadian firms, Modest Tree and Hepburn Engineering
Quotes
“We see significant opportunities for collaboration between Hanwha Ocean and PCL Construction on the planning and construction of infrastructure needed for the Canadian Patrol Submarine Project. As Canada’s largest construction company with significant experience in delivering defence and maritime projects across Canada, the addition of PCL really enhances our team.”
VAdm (Ret) Steve Jeong, Senior Executive Vice President, Head of Naval Ship Global Business, Hanwha Ocean
“PCL Construction is proud to join Hanwha Ocean’s Team to collaborate on the planning and construction of infrastructure for the Canadian Patrol Submarine Project. Our company has significant experience partnering with the Government of Canada, the Department of National Defence and the Canadian Armed Forces on projects across Canada. We believe PCL’s expertise and collaborative approach will be a great asset to Hanwha Ocean’s proposal for this critical project.”
Mike Wieninger, Chief Operating Officer, Canadian Operations, PCL Construction
