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KREconomy2 days ago

Canada submarine bid hopeful but remains unclear: Lee

South Korean President Lee Jae Myung stated that South Korea's bid for Canada's submarine project remains uncertain, despite high hopes. During a recent meeting at the G7 summit, Lee discussed the matter with Canadian Prime Minister Mark Carney but did not receive clarity on the outcome. South Korea's Hanhwa Ocean is competing against Germany's ThyssenKrupp Marine Systems for the contract, which involves building 12 diesel-powered submarines valued at approximately $39.3 billion.

President Lee Jae Myung and Canadian Prime Minister Mark Carney shake hands ahead of talks held on the sidelines of the G7 summit in Evian-les-Bains, France, on Tuesday. (Yonhap)

South Korea’s bid for Canada’s submarine project remains unclear, President Lee Jae Myung said Friday.

“I met the German chancellor first, and then met the Canadian prime minister, but (I) could not get a sense about the outcome (of the bid),” Lee said during a briefing on his trip to Europe.

Lee met with German Chancellor Friedrich Merz on the sidelines of the Group of Seven summit held in Evian-les-Bains, France, on Tuesday, and then with Canadian Prime Minister Mark Carney later that day.

“We have high hopes based on our overall assessment, but it is not so easy as to be confident (about the result),” Lee said, adding that it was very difficult to get a clear idea about the outcome.

South Korea’s Hanhwa Ocean is currently competing against Germany’s ThyssenKrupp Marine Systems to be selected as the preferred bidder for the Canadian Patrol Submarine Project.

The project will require 12 diesel-powered submarines to replace four Victoria-class submarines that will be retired in the mid 2030s. Including maintenance and repairs, the project is estimated to be worth 60 trillion won ($39.3 billion)

cheesuk@heraldcorp.com

Read the full article at The Korea Herald →
Source document: President Lee Jae Myung's briefing on his trip to Europe

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The Korea HeraldIndependentCenter2 days ago
Canada submarine bid hopeful but remains unclear: Lee

South Korean President Lee Jae Myung stated that South Korea's bid for Canada's submarine project remains uncertain, despite high hopes. During a recent meeting at the G7 summit, Lee discussed the matter with Canadian Prime Minister Mark Carney but did not receive clarity on the outcome. South Korea's Hanhwa Ocean is competing against Germany's ThyssenKrupp Marine Systems for the contract, which involves building 12 diesel-powered submarines valued at approximately $39.3 billion.

Bias read (Center): The article presents factual information without overtly favoring any side. It reports directly on the president's comments regarding the uncertainty of the bid and provides background on the competition between South Korean and German companies. There is no evident framing bias, loaded language, or

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  • governmentPresident Lee Jae Myung's briefing on his trip to Europe