South Korea & ThyssenKrupp — TKMS

South Korea: South Korea is actively pursuing a significant defense contract with Canada, which could boost its defense industry and international standing. Its officials are engaging in diplomatic efforts to secure the submarine project.

ThyssenKrupp — TKMS: Thyssenkrupp Marine Systems is the main competitor against the South Korean consortium for the Canadian submarine project. The outcome of this bid will directly impact its potential for a large defense contract.

South Korea: South Korea's Hanwha Ocean loses the contract, potentially straining diplomatic relations and impacting its defense export ambitions.

ThyssenKrupp — TKMS: TKMS wins a landmark contract to build up to 12 submarines for Canada, boosting its order book and reinforcing its position as a leading non-nuclear submarine builder.

South Korea: Hanwha's loss is offset by ongoing strategic discussions with Canada on technology.

ThyssenKrupp — TKMS: Selected as preferred bidder for Canada's submarine fleet, securing a major contract.

South Korea: South Korea's President Lee met with Canada's Carney; Hanwha remained a reserve bidder for Canada's submarine contract.

ThyssenKrupp — TKMS: Selected by Canada to build new submarine fleet, a multi-billion-dollar contract.