Alphabiz - Kang Hoon-sik Backs Korea’s Bid in Canada’s $45 Billion Submarine Project

Photo courtesy of Kang Hoon-sik’s Facebook

[Alpha Biz= Kim Jisun] OTTAWA/SEOUL, June 4 — Kang Hoon-sik, chief of staff to President Lee Jae-myung, has stepped up last-minute support for South Korea’s bid in Canada’s submarine procurement project, valued at about 60 trillion won ($45 billion), during his visit to Ottawa as a special envoy for strategic economic cooperation.

Kang said he met with senior Canadian officials, including Mark Blanchard, chief of staff to the prime minister, and Senator Marty Deacon, chair of the national security, defense and veterans affairs committee, to discuss expanding bilateral cooperation.

He emphasized the competitiveness of Korea’s submarines and urged a fair and objective evaluation, highlighting potential economic benefits through industrial cooperation. Kang also sought parliamentary support for the bid, noting that “Team Korea” could contribute to job creation and economic growth in Ontario.

Separately, Kang said he agreed with Natural Resources Minister Tim Hodgson to strengthen cooperation in energy resources, including crude oil, LNG and critical minerals. The two sides also discussed increasing imports of Canadian crude oil to up to 20 million barrels annually starting next year.

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)