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Prime Minister Mark Carney is set to make an announcement in Halifax today, which is widely expected to be Canada’s high-stakes decision to buy a fleet of submarines from South Korea’s Hanwha or Germany’s TKMS.
Carney is set to make the announcement before leaving for the NATO summit in Turkey.
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Both qualified bidders offered multiple partnerships with Canadian companies in the heated race for the multi-billion dollar contract to manufacture up to 12 submarines.
The government and the successful bidder are expected enter into months of negotiations to finalize the submarine contract.
Stephen Fuhr, secretary of state for defence procurement, is scheduled to make an announcement around the same time as Carney on the Pacific coast.
Ottawa will soon have to retire its Victoria class submarines that are nearing the end of their lifespans and both contractors have said they anticipate delivering new subs to Canada in the early 2030s.
Hanwha launched a massive ad campaign, plastering airports in Canada with advertisements and hitting broadcast TV and streaming platforms to showcase its KSS-III.
The TKMS campaign for the sub contract has focused on the fact that Germany and Norway, NATO alliance countries, are buying the same model. Interoperability — doing things like training and repairs together — is a stated goal of the alliance.
This report by The Canadian Press was first published July 6, 2026.
