South Korea, Canada discuss stronger space, defence cooperation amid submarine bidding race
Seoul, June 2
South Korea and Canada have discussed a deeper partnership in advanced industries, including space and defence, Seoul's industry ministry said on Tuesday, as the country is making last-minute efforts to win Canada's submarine project.
The Ministry of Trade, Industry and Resources and the Korea Trade-Investment Promotion Agency (KOTRA) jointly hosted a business roundtable in Toronto on Monday (local time) to promote cooperation between Korean and Canadian companies.
The event was attended by presidential chief of staff Kang Hoon-sik, currently in Canada as Seoul's envoy for special economic cooperation, along with Vice Industry Minister Moon Shin-hak, Minister of the Defence Acquisition Program Administration Lee Yong-cheol and some 50 business leaders from the two countries, according to the ministry.
The visit by the high-ranking Korean officials to Canada is widely seen as a move to support Seoul's bid to win Ottawa's high-profile submarine procurement project.
Currently, South Korea's Hanwha Ocean Co.-HD Hyundai Heavy Industries Co. consortium is competing with Germany's Thyssenkrupp Marine Systems for the estimated 60 trillion-won (US$39.7 billion) deal, with Canada expected to announce the preferred bidder in late June, reports Yonhap news agency.
During the business roundtable, Hanwha proposed ways to deepen space and defence cooperation between South Korea and Canada, while Hyundai Motor Co. unveiled its vision for a hydrogen partnership between the two countries, the ministry said.
Korean and Canadian companies signed three memorandums of understanding for collaboration in space and defence sectors, marking the event, it added.
"If Canada's abundant resources and advanced technological capabilities are combined with Korea's world-class manufacturing capacity, the two countries will be able to lead the global market in advanced industries," Kang was quoted as saying.
— IANS
Reader Comments
Korea is being smart - they're pitching not just submarines but a whole package including space and hydrogen. That's what makes a bid attractive. Canada will want a partner for decades, not just one deal. India should learn from this kind of integrated diplomacy.
$39.7 billion deal? That's massive! With India's own submarine building program under Project 75I, we are also in the same league. But Korea is aggressive in marketing - sending top officials and signing MOUs on the spot. We need to be equally proactive in defence exports.
While Korea is running after this deal, India should focus on making our own submarines indigenously. We don't need to bid for foreign projects when we can build Atmanirbhar submarines for our navy first. But I agree their pitch is impressive - space + defence + hydrogen is a smart combo.
Canada is playing it smart - they're getting Korea and Germany to compete, which means better terms for them. India should also learn to leverage such competition when we procure defence equipment. We often end up with single-vendor situations.
The hydrogen partnership angle is interesting. India has the National Green Hydrogen Mission and Canada has abundant resources. Maybe we should also explore such trilateral or bilateral cooperation in green energy with both Korea and Canada. Defence deals shouldn't be the only focus.
M We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.