Canada picks German firm for new submarine fleet, South Korean competitor loses out

German firm TKMS beats Hanwha Ocean of South Korea to Canadian submarine agreement in a move expected to strengthen ties with Nato

“As part of our commitments to defend Canada and support our allies, I am pleased to announce that Canada has selected TKMS,” said Carney in Halifax shortly before heading to the summit in Ankara, before adding that there were still many other areas where Canada and South Korea can work together.

“The bigger story is that a growing number of countries, with Canada one of the most vocal, are working to de-risk from both the United States and China by strengthening security and economic ties among themselves.”