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Hanwha Group expands defense, naval partnerships in Canada, U.S.

Published: 22 Apr. 2026, 17:57

Hanwha Group set up a large standalone exhibition booth at the defense exhibition Sea-Air-Space 2026 in Maryland from April 20 to 22. [HANWHA OCEAN]

Hanwha Group is expanding its defense industry partnerships in North America, spanning Canadian submarines, U.S. naval vessels and missiles.

Hanwha Corporation signed a memorandum of understanding (MOU) with the government of Alberta, Canada, for comprehensive cooperation across key industries such as energy, defense and shipbuilding, the group announced on Wednesday.

The signing ceremony, held on Tuesday, was attended by Danielle Smith, the Alberta premier, Lee Jae-kyu, CEO of Hanwha Energy, and other Hanwha executives.

The agreement is seen as part of Hanwha’s strategy to strengthen partnerships tied to Canada’s next-generation submarine project, estimated at up to 80 trillion won ($54 billion).

Hanwha Ocean is competing with Germany's ThyssenKrupp Marine Systems for the contract, while Canada has emphasized its demand that the companies contribute to its local industry.

Hanwha Group plans to mobilize its major subsidiaries, such as Hanwha Energy, Hanwha Ocean, Hanwha Aerospace and Hanwha Power, as strategic partners. The group as a whole aims to expand cooperation across sectors ranging from oil, liquefied natural gas and hydrogen to carbon capture and storage, as well as defense and shipbuilding.

Lee Jae-kyu, CEO of Hanwha Energy (third from left), and Alberta Premier Danielle Smith (fourth from left) pose for a photo after signing a memorandum of understanding for cooperation in key industries including energy and defense on April 21. [HANWHA GROUP]

In the short term, Hanwha plans to strengthen cooperation through natural gas trade, while, over the longer term, expanding into hydrogen- and ammonia-based clean energy projects.

Defense cooperation with the United States is also gaining momentum. Hanwha Ocean signed an MOU with U.S. defense firm Gibbs & Cox, a wholly owned subsidiary of Leidos, on Tuesday at the Sea-Air-Space 2026 exhibition in Maryland to strengthen naval shipbuilding capabilities.

The agreement includes collaboration on ship designs optimized for U.S. Navy requirements, joint development of next-generation vessels for the global market and the establishment of supply chains using both U.S. and Korean production bases.

Hanwha Ocean's shipyard is seen in Geoje, South Gyeongsang on March 12. [YONHAP]

Gibbs & Cox has designed more than 70 percent of U.S. Navy surface ships since World War II, including key vessels such as the Arleigh Burke-class Aegis destroyer and the Constellation-class next-generation frigate, according to Hanwha Ocean.

“[Gibbs & Cox] is the best partner for our entrance to the U.S. market as it has the most comprehensive understanding of the U.S. Navy’s operational requirements and technical specifications,” Hanwha Ocean stated.

Hanwha Aerospace also reached an agreement with U.S. defense firm Northrop Grumman at the same event to jointly develop long-range missiles. The two sides signed a memorandum of agreement to cooperate on developing a first-stage solid-fuel booster for the ground-launched long-range missile system known as AReS.

Hanwha Aerospace plans to participate in the early stages of AReS development to accelerate mass production. The new weapons system will be developed with the goal of a demonstration in 2027.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY NAM YOON-SEO [[email protected]]