Hanwha Aerospace and Canadian Defense Vehicle Joint Venture

planned

Hanwha Aerospace signed a memorandum of understanding with Canada's Automotive Parts Manufacturers’ Association and Hanwha Ocean to cooperate on the production of military and special-purpose vehicles in Ontario. The joint venture is contingent on the selection of Hanwha Ocean's Jangbogo-class submarine as a finalist in Canada's Canadian Patrol Submarine Project. The venture aims to establish development and production systems for ground weapons platforms using locally sourced materials and Canadian workers, expanding business to include special-purpose vehicles for Canadian government, military, and Arctic resource development.