Ottawa: South Korea has made a strategic move in its bid for a significant Canadian submarine contract by proposing a hydrogen-powered truck project. This proposal is part of efforts to enhance its offer against Germany, as reported by a Canadian media outlet.
According to Yonhap News Agency, the announcement was made by South Korea's Presidential Chief of Staff Kang Hoon-sik during an interview with Canada's CTV News. Kang is visiting Canada as a special envoy for President Lee Jae Myung, supporting Seoul's campaign to supply 12 submarines to Ottawa. The competition for the contract, valued at approximately 60 trillion won (US$39.7 billion), is between a consortium of Hanwha Ocean Co. and HD Hyundai Heavy Industries Co. from South Korea and Germany's Thyssenkrupp Marine Systems (TKMS). The Canadian government is expected to announce its preferred bidder later this month.
During the interview, Kang outlined South Korea's commitment to investing over $2.3 billion in Canada. This investment aims to establish a hydrogen-powered trucking industry in Canada, creating around 9,000 jobs under a project dubbed "Project Beaver," contingent on the Korean consortium winning the submarine contract. Kang emphasized that Project Beaver would utilize Hyundai Motor's hydrogen fuel-cell technology, with plans to localize production and related industries within Canada.