Why Did Ontario’s Minister of Economic Development Really Visit Hanwha Ocean’s Geoje Shipyard?

Touring Shipbuilding Facilities and Boarding the Jang Youngsil Ahead of Canadian Submarine Bid
Hanwha Ocean Pursues Job Creation and Regional Industrial Development Initiatives in Ontario

This was not simply a factory tour. The Canadian minister was left speechless by the sight of steel being folded like paper and ships the size of apartment buildings being launched.

With the bidding for the Canadian Patrol Submarine Project (CPSP) approaching, Victor Fedeli, Minister of Economic Development for Ontario-the largest province in Canada-visited Hanwha Ocean’s Geoje shipyard, where the company is making every effort to win the CPSP contract.

On the 22nd, Victor Fedeli, Minister of Economic Development for Ontario, Canada (third from the left), is taking a commemorative photo with Kim Heechul, CEO of Hanwha Ocean (fourth from the left), in front of a large Goliath crane. Provided by Hanwha Ocean

The Canadian Patrol Submarine Project, or CPSP, stands for Canadian Patrol Submarine Project.

Hanwha Ocean announced that on January 22, Victor Fedeli, Minister of Economic Development, Job Creation and Trade for Ontario and Member of Provincial Parliament for Nipissing, visited the Geoje shipyard.

Minister Fedeli toured Hanwha Ocean’s Geoje shipyard, which boasts the world’s largest and most advanced shipbuilding facilities, observed the ship construction sites, and examined automated production equipment utilizing welding robots. He also boarded the “Jang Youngsil,” which was launched in October 2025, to directly inspect the excellence of the “Jangbogo-III Batch II” submarine.

Hanwha Ocean explained to Minister Fedeli the design and production process of the CPSP proposal model submarine, highlighting its world-class large-scale shipbuilding infrastructure and Hanwha Ocean’s overwhelming production capabilities.

In addition, Hanwha Ocean presented strategies for industrial cooperation related to Industrial and Technological Benefits (ITB), a key component of the Canadian submarine project, and introduced investment and employment effects across all regions of Canada, including Ontario.

Hanwha Ocean plans to pursue various cooperative initiatives with Ontario, the Great Lakes region of Canada, following Minister Fedeli’s visit. Through partnerships that can contribute to job creation and the development of local industries in Ontario, the company expects to play a significant role in ITB negotiations, a major element in securing the CPSP contract.

On the day of the visit, Hanwha Ocean CEO Kim Heechul said, “It is very meaningful to be able to directly introduce the latest submarines, already proven by the Republic of Korea Navy,” adding, “Discussions on cooperation with Ontario’s industries demonstrate our firm commitment to establishing sustainable submarine construction and maintenance capabilities in Canada.”

Hanwha Ocean has recently signed MOUs for shipbuilding and industrial cooperation with more than ten Canadian local companies. In addition, the company is actively seeking further local partnerships to support the Canadian government’s ‘Buy Canadian’ policy.