Industry Minister Mélanie Joly is travelling to South Korea this week for a five-day mission aimed at securing major foreign investment in Canada’s rapidly expanding defence and advanced manufacturing sectors.
Joly will meet with senior executives from Hanwha — one of two bidders vying for Canada’s multibillion-dollar submarine procurement program — as well as other government and industry officials in Seoul and Busan. She will later continue the trip with meetings in Tokyo.
Ottawa is seeking to accelerate non-U.S. exports and attract large-scale projects in areas such as shipbuilding, battery and automotive production, and critical mineral development. Discussions with
Hanwha are expected to be a focal point, following Prime Minister Mark Carney’s visit last month to the company’s submarine manufacturing facilities in South Korea.
Canada plans to acquire up to 12 new submarines to replace the aging Victoria-class fleet, which is set to retire within the next decade. The government is also preparing to release a new defence industrial strategy in the coming weeks, further underscoring its push to expand domestic capabilities and secure major overseas partnerships.
Industry Minister Joly travels to South Korea for defence, investment meetings
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