Hanwha signed multiple strategic memorandums of understanding with Canadian companies Algoma Steel, Telesat, MDA Space, Cohere, and PV Labs, announcing a series of strategic MOUs spanning steel, space, artificial intelligence, and advanced technologies in support of the Canadian Patrol Submarine Project (CPSP).
South Korea views the CPSP as an opportunity to elevate the Canada-Korea relationship into a durable, whole-of-government strategic partnership spanning defense, industry, technology, and security cooperation.
The shipbuilder Hanwha Ocean and Algoma Steel, a Canadian producer of plate and sheet steel products, have entered into a binding MOU to establish a long-term strategic arrangement to support the revitalization of Canada’s steel sector and create jobs for Canadians.
Under the MOU, Hanwha Ocean is to provide Algoma with an aggregate potential value of up to $250m, comprising 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 infrastructure in Nova Scotia and British Columbia where the submarine fleet will be fully supported throughout its lifecycle.
Under a separate MOU, Hanwha Ocean, Hanwha Systems and AI company Cohere co-headquartered in Toronto and San Francisco, will explore collaboration on advanced artificial intelligence technologies in support of the Canadian Patrol Submarine Project (CPSP).
The partnership focuses on the joint development of AI models – including large language and multimodal models – to enhance submarine operations and shipyard efficiency.
The collaboration is intended as a cooperative framework to assess potential AI-enabled applications across submarine platforms and related industrial processes.
“Through this three-way collaboration with Cohere and Hanwha Ocean, Hanwha Systems is bringing together Canada’s advanced AI technologies and Korea’s proven shipbuilding and defense capabilities to develop next-generation AI models for the shipbuilding industry, spanning design, production, and operations,” said Jae-il Son, CEO of Hanwha Systems. “As a top-tier Korean provider of mission-critical maritime solutions for nearly all classes of naval vessels, including submarines, as well as naval manned-unmanned teaming (MUM-T) and enterprise IT solutions, we will leverage this combined expertise to support Canada’s shipbuilding ecosystem and help strengthen its naval defense capabilities.”
In addition, Hanwha Systems inked an MOU with Telesat, a Canadian satellite communications firm, for collaboration in low Earth orbit satellite projects.
Two more MOUs were signed with MDA Space and PV Labs.
