60조 원의 승부수, ‘프로젝트 비버’로 캐나다 잠수함 시장을 정조준하다 > K-wave Trends

This Canadian Submarine Project (CPSP) is evaluated as a large-scale national project worth up to 60 trillion won, beyond simple weapons purchase. In this project to introduce a total of 12 ships to replace the aging Victoria-class submarines, Hanwha Ocean and Germany's ThyssenKrupp Marine Systems (TKMS) are putting their lives on the line to determine the final winner. Korea is not simply proposing only the hardware of submarines, but is also promoting a 'total solution' that includes local maintenance systems, long-term military support, and construction of follow-up ships. This strategy is attracting great attention from the Canadian government because submarine exports represent a partnership that will last for decades, rather than a one-time transaction.

The decisive game that the Korean government and companies have adopted is ‘Project Beaver.’ This plan, directly unveiled by Presidential Chief of Staff Kang Hoon-sik, is an unprecedented proposal to build a hydrogen commercial vehicle ecosystem worth approximately 3.4 trillion won in Canada in connection with the submarine project. This is a large-scale investment package that includes the construction of a liquefied hydrogen plant based on Hyundai Motor Company's hydrogen truck technology, the installation of approximately 200 hydrogen charging stations, and the establishment of a hydrogen vehicle production plant. This is in line with the government's policy direction to transform Canada's industrial structure into a low-carbon economy, and is evaluated as a powerful 'game changer' that can overwhelm Germany in the submarine order war.

There is a strategic background as to why Korea chose hydrogen trucks rather than electric vehicles. Rather than competing directly with Chinese electric vehicles, which are aggressively pursuing low prices in the Canadian market, we believe it is much more advantageous to cooperate with Canada in the field of hydrogen commercial vehicles, where we have a technological advantage. In addition, there is a sophisticated diplomatic calculation to maximize economic benefits by creating local jobs in Canada while bypassing the pressure that the United States is putting on automobile companies to reorganize their supply chains centered on their own country. In fact, if this project comes to fruition, it is expected to create thousands of jobs in Canada and create enormous economic added value.

In addition to the government's support, the Korean Navy is also lending its support by conducting direct ‘technological demonstrations’ on site. The 3,000-ton Dosan Ahn Chang-ho, which crossed the Pacific Ocean last month, demonstrated its overwhelming operational capabilities by conducting joint training with the local navy in the waters of western Canada. In particular, the military interoperability and trust relationship between the two countries has become stronger than ever, with Canadian crews directly boarding our submarines and accompanying them to RIMPAC exercises. This became the most effective promotional strategy to directly show Canadian military authorities how flexible the advanced systems of Korean submarines operate in real combat.

The economic ripple effect on the overall submarine industry ecosystem is also something to pay attention to. The fact that the stock prices of 22 listed companies in the domestic submarine supply chain have soared by more than 90% on average over the past year proves how much the market feels the weight of this project. From combat systems, sonar equipment, special batteries, AIP (air-independent propulsion systems), and various precision parts, an order for one submarine is like a guaranteed check that guarantees long-term sales for many small and medium-sized companies. If this contract is concluded, Korea's defense industry will go beyond a simple manufacturing country and take a firm position as a key supply chain for global maritime security.