Hanwha Ocean: The 'Tesla' of Submarines Eyeing Canada’s $44 Billion CPSP Project
Hanwha Ocean (KRX: 042660) battles Germany for Canada's $44B CPSP project. Learn why the 'Tesla of submarines' is a top watch for global defense investors. Introduction: A New Era for K-Defense Move over K-Pop and K-Drama; the newest global export from South Korea making waves is K-Defense . Specifically, Hanwha Ocean (KRX: 042660) , a heavyweight in the global shipbuilding and defense industry (often compared to US defense giants like General Dynamics or Huntington Ingalls ), is currently in a high-stakes showdown. The prize? The Canadian Patrol Submarine Project (CPSP) , a massive contract valued at approximately 60 trillion KRW (approx. $44.1 billion USD). The $44 Billion Prize: Canada's CPSP Project Canada is looking to modernize its aging submarine fleet, and the competition has narrowed down to a fierce duel between South Korea's Hanwha Ocean and Germany’s ThyssenKrupp Marine Systems (TKMS). With the final selection expected as early as late June, Hanwha is p...