Kang Hoon-sik Canada visit

Ottawa/Seoul (Rajeev Sharma): South Korea has intensified its efforts to secure a major Canadian submarine procurement project, with Presidential Chief of Staff Kang Hoon-sik leading a high-level delegation to Canada along with senior executives from Hyundai Motor, Hanwha Group and HD Hyundai Heavy Industries. Kang said the visit aims to strengthen South Korea’s bid for the Canadian Navy’s new submarine fleet, a project believed to be worth around 40 trillion won (approximately US$27.65 billion). South Korea is competing against Germany’s ThyssenKrupp Marine Systems (TKMS) for the contract, which industry sources estimate to be valued at more than US$12 billion. Speaking…