South Korea Proposes 3.4 Trillion Won Investment in Canada

South Korea proposed investing 3.4 trillion won ^[1] in Canada to develop hydrogen-truck technology and build supporting charging infrastructure.

This strategic investment is designed to strengthen South Korea's position in a competitive bidding process for Canada's next-generation submarine project. By offering significant economic cooperation in the green energy sector, Seoul seeks to secure a defense contract that could be worth up to 60 trillion won ^[1].

Kang Hoon-sik, chief of the South Korean presidential secretariat, said the plan involves investing 3.4 trillion won ^[1] locally in Canada. This funding would be used to implement hydrogen-truck technology developed by Hyundai Motor Group, and establish the necessary infrastructure to support those vehicles.

The proposal links industrial technology transfers with defense procurement. The submarine project is a high-stakes competition involving several international players, and the South Korean government is leveraging its commercial strengths—specifically through Hyundai and Hanwha Ocean—to gain a competitive edge.

If South Korea wins the bid, the first phase of the submarine project is expected to begin in 2030 ^[1]. The scale of the potential deal makes it one of the most significant defense acquisitions in Canadian history.

Kang said that the investment in hydrogen technology and charging stations serves as a bridge to a deeper strategic partnership. The initiative aligns with global shifts toward decarbonization, while simultaneously advancing South Korea's naval export goals.