Hanwha Group said Wednesday it is strengthening business ties with Alberta, Canada, across key industries spanning energy, defense and shipbuilding, as it pushes for the country’s next-generation submarine bid.
Key officials — including Hanwha Energy CEO Lee Jae-kyu; Lim Ki-mo, South Korean ambassador to Canada; Danielle Smith, premier of Alberta; and Joseph Schow, Alberta’s minister of jobs, economy, trade and immigration — attended a memorandum of understanding signing ceremony in Edmonton earlier in the day, aimed at advancing economic cooperation.
Under the agreement, Hanwha and the Alberta government will pursue mid- to long-term investments and jointly develop an industrial ecosystem in the province. Major Hanwha affiliates — including Hanwha Energy, Hanwha Ocean, Hanwha Aerospace and Hanwha Power Systems — will participate as strategic partners, strengthening cooperation across oil, LNG, hydrogen, carbon capture and storage, as well as defense and shipbuilding supply chains.
A central focus of the partnership is to support Canada’s transition to low-carbon energy while strengthening industrial growth and supply chain resilience. In the near term, the two sides plan to expand trade in resources such as natural gas, with longer-term goals to extend cooperation to hydrogen- and ammonia-based clean energy projects and carbon management infrastructure.
Hanwha will also support the goals of Canada’s Defence Industrial Strategy, which aims to develop, produce and maintain critical defense assets domestically while fostering skilled jobs and resilient supply chains.
Alberta has been positioning itself as a defense manufacturing hub, supported by roughly 6.5 million Canadian dollars ($4.8 million) in federal investment to expand industrial capacity and attract global partners.
Hanwha’s defense push comes amid a high-stakes 60 trillion won ($40.7 billion) bid for Canada’s next-generation submarine project. On April 14, Hanwha Ocean CEO Kim Hee-cheul visited Halifax County and met with provincial officials, including Tim Houston, the premier of Nova Scotia, to discuss defense and industrial cooperation.
Hanwha is also seeking to build a broader foundation for industrial collaboration with both federal and provincial governments in Canada, integrating energy development, infrastructure investment and supply chain expansion.
“This MOU marks an opportunity to elevate our cooperation with Alberta to the next level,” Lee said, adding that the group will leverage its capabilities to deliver meaningful results across multiple sectors.
hyejin2@heraldcorp.com
