German Vice Chancellor Optimistic: "Favorable Prospects for Winning Canadian Submarine Project"

The German government is optimistic that it will win the bid for Canada's submarine project (CPSP), estimated to be worth up to 60 trillion won, overtaking Korea.

On July 3 (local time), German Vice Chancellor and Minister of Finance Lars Klingbeil visited German shipbuilder Thyssenkrupp Marine Systems (TKMS) and, according to Germany’s dpa news agency, stated, “We are conducting an all-out campaign for defense cooperation with Canada,” adding, “In many respects, the situation is very favorable for us.”

The CPSP project involves the introduction of up to 12 diesel submarines to replace aging vessels. When including construction costs and maintenance, repair, and operations (MRO) for 30 years after acquisition, the total project size is expected to reach up to 60 trillion won. Korea’s Hanwha Ocean and Germany’s TKMS have both been shortlisted as qualified candidates and are currently competing for the contract.

Both Korea and Germany are waging an all-out effort, with government involvement, to secure the contract. Previously, Kang Hoon-Sik, Chief of Staff to the President, commented on the project, saying, “It’s about a 50-50 situation,” and added, “Canada and Korea have a completely symmetrical structure, so there are many ways for both sides to achieve a win-win outcome.”

This content was produced with the assistance of AI translation services.