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133,500 KRW
1.4
1.04%
Last update Apr 27, 3:00 PM KST
Market closed
Day range
131,700
137,500
Previous close
134,900
Open
136,500
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Hanwha Ocean Co. Ltd.
133,500.00
1.40K
1.04%

Overview

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Description

Hanwha Ocean Co. Ltd. is a prominent player in the shipbuilding and offshore engineering industries, primarily engaged in the design, construction, and maintenance of a wide array of maritime vessels and offshore structures. The company specializes in constructing commercial ships, notably bulk carriers, container ships, and tankers, essential for global trade and supply chains. Additionally, Hanwha Ocean is involved in the production of specialized vessels and advanced naval ships, catering to government and defense sectors. Their capabilities extend into the offshore engineering domain, where they develop offshore platforms and facilities, integral to oil and gas extraction and energy distribution. With a strong emphasis on technological innovation, Hanwha Ocean contributes to advancements in maritime engineering, focusing on eco-friendly and efficient vessel solutions. Their expertise supports global energy infrastructure and maritime logistics, making them a key contributor to industries reliant on shipping and offshore resources. In the financial markets, Hanwha Ocean Co. Ltd. is recognized for its role in advancing shipbuilding technologies and maintaining South Korea's leadership in the global shipbuilding arena.

About

CEO
Mr. Hee Cheul Kim
Employees
9454
Address
3370, Geoje-daero
Geoje-Si
Phone
82 5 5735 2114
Website
Instrument type
Common stock
Sector
Industrials
Industry
Aerospace & Defense
Country
South Korea
MIC code
XKRX
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Latest press releases

Mar 30, 2026
Korean-Built KSS-III Submarine Departs for Canada, Marking Pacific Crossing Ahead of Joint Naval Exercise

Voyage to Victoria signals growing Canada–Korea defence cooperation and showcases advanced submarine capabilities ahead of late May arrival

Two Royal Canadian Navy submariners will board the KSS-III submarine in Hawaii to participate in the remainder of the journey to Canada

OTTAWA, ON, March 30, 2026 /CNW/ -- A next-generation Korean-built KSS-III submarine has departed for Canada, marking a milestone in bilateral defence cooperation between Canada and Korea. The submarine is scheduled to arrive in Victoria, British Columbia in late May.

The Republic of Korea (ROK) Navy's Dosan Ahn Changho set sail from Jinhae Naval Base on March 25 to participate in a Republic of Korea–Canada naval cooperative exercise scheduled for June. The deployment includes a 14,000-kilometre trans-Pacific voyage, the longest ever undertaken by a Korean submarine, underscoring both its long-endurance operational capability and the growing strategic alignment between Canada and the Republic of Korea in global maritime security.

A First-of-Its-Kind Deployment to Canada

During its transit, the KSS-III submarine will make logistical stops in Guam and Hawaii. In Hawaii, two Royal Canadian Navy submariners will embark on the submarine and join the ROK Navy crew for the voyage onward to Victoria, highlighting the operational integration and partnership between the two navies.

Upon arrival in Esquimalt, the Canadian Navy's West Coast home port just outside Victoria, the submarine is expected to participate in joint exercises alongside Canadian naval forces, and a series of engagements and outreach activities are scheduled.

The visit comes at a time of increasing focus on Canada's future submarine capabilities and is expected to draw attention from government officials, defence stakeholders and Canadian industry.

Demonstrating Proven Capability at Scale

The KSS-III is Korea's first indigenously designed 3,000-ton-class submarine, built by Hanwha Ocean, representing a new generation of advanced naval capability developed through domestic innovation. Last year, a KSS-III submarine conducted a month-long joint anti-submarine warfare exercise with the U.S. Navy in Guam, demonstrating its ability to operate over extended ranges and integrate seamlessly with allied naval forces.

Its Pacific deployment provides a real-world demonstration of:

  • Long-range endurance and operational reliability
  • Advanced combat system integration
  • Sustained blue-water deployment capability

"These kinds of operational deployments are critical in demonstrating not only naval capability and interoperability with NATO nations, but also the strength of Korea's defence industry and its growing cooperation with partners such as Canada," said Lee Yong-cheol, Minister of the Defense Acquisition Program Administration.

A Partnership in Motion

The departure ceremony, held at Korea's Submarine Command in Jinhae, was attended by senior Korean defence officials and international representatives, including the Canadian Ambassador to Korea, reflecting the significance of the mission for both countries

A symbolic sea water exchange ceremony was also conducted, in which seawater from Korea will be carried across the Pacific and combined with Canadian seawater upon arrival -- representing the shared commitment and partnership between the two nations.

Building Momentum Toward Canada's Future Submarine Capability

The upcoming arrival of the submarine in Canada is expected to serve as a key milestone in demonstrating the strength of Korea's submarine technology and its relevance to Canada's future fleet considerations.

"This deployment provides a tangible demonstration of the submarine's endurance and proven operational capability, and its ability to meet Canada's underwater defence and security needs at the speed of delivery required," said Glenn Copeland, CEO of Hanwha Canada. "We look forward to engaging with Canadian stakeholders and demonstrating how Hanwha Ocean can support sovereign defence and sustainment capabilities in Canada through localization, transfer of technology, workforce development, and skills transfer."

Note to Media:

Further details on media opportunities when the submarine arrives in Canada in late May will be shared in the coming weeks.

SOURCE Hanwha Ocean

Feb 19, 2026
Hanwha Ocean Signs Landmark Agreements to Strengthen Canada's Sovereign Defence Industrial Capacity, Expand Domestic Shipbuilding Workforce, and Accelerate Large-Scale Shipbuilding in Ontario

Strategic MOU advances industrial capability and technology transfer in Ontario; trilateral LOI establishes an embedded shipbuilding workforce development and innovation hub

HAMILTON, ON, Feb. 19, 2026 /CNW/ -- Hanwha Ocean and Ontario Shipyards have signed a strategic Memorandum of Understanding (MOU) to accelerate the return of large-scale shipbuilding in Ontario and to strengthen Canada's ability to deliver future naval programs.

In parallel, Hanwha Ocean, Ontario Shipyards and Mohawk College have entered into a Letter of Intent (LOI) to establish an embedded shipbuilding training hub at Ontario Shipyards' Hamilton facility, aligned with the sector's long-term workforce requirements.

Together, the agreements establish a coordinated industrial and workforce development framework intended to position Ontario as a scalable centre of excellence for defence-related shipbuilding and advanced marine manufacturing in the Great Lakes region.

Memorandum of Understanding

Hanwha Ocean and Ontario Shipyards

Under the bilateral MOU, Hanwha Ocean will provide structured technical and operational support to Ontario Shipyards to strengthen production readiness and shipyard performance.

The cooperation will focus on:

  • design and engineering
  • production planning and construction sequencing
  • quality management systems
  • advanced shipyard processes and smart-yard best practices

These measures are intended to accelerate the re-establishment of large-scale vessel construction capability in Ontario, enhance production efficiency, and support long-term naval industrial readiness.

As part of this cooperation, Hanwha Ocean will provide support to the design and construction for a Training and Recruitment vessel that Ontario Shipyards will begin building in 2026, serving as a practical demonstration of next-generation shipbuilding capability in the province.

Subject to the award of the Canadian Patrol Submarine Project (CPSP), Hanwha Ocean intends to pursue further strategic investment in Ontario, including the establishment of a dedicated shipbuilding training centre and expanded industrial cooperation with Ontario-based suppliers.

Letter of Intent

Hanwha Ocean, Ontario Shipyards and Mohawk College

The trilateral LOI establishes a structured pathway to address persistent shortages in skilled trades and technical professionals critical to shipbuilding.

The collaboration will focus on:

  • establishing an integrated training hub embedded within Ontario Shipyards' Hamilton Shipyard
  • developing industry-led credentials and specialized shipbuilding certifications
  • supporting apprenticeship and co-op pathways aligned with production requirements
  • exploring applied research in automation, robotics ad digital manufacturing

Under this framework:

  • Mohawk College will lead academic programming across skilled trades and technology disciplines including welding, electrical, millwright, marine mechanics, robotics, logistics, and non-destructive evaluation..
  • Ontario Shipyards will provide facilities and direct workforce integration aligned with its production and expansion plans.
  • Hanwha Ocean will contribute technical advisory support and access to its global industrial networks to align training with international standards and operational best practices.

Strengthening Ontario's Role in Canada's Marine Defence Ecosystem

By integrating industrial modernization with structured workforce development, the partnership aligns with Ontario's advanced manufacturing strategy and Canada's broader objective to strengthen sovereign defence industrial capability.

The coordinated framework is expected to:

  • generate and sustain high-quality skilled employment
  • expand Ontario-based marine and defence supply chains
  • increase participation of regional small and medium-sized enterprises
  • strengthen Canada's domestic capacity to construct, maintain and sustain complex naval platforms

Over the long term, the initiative is designed to position the Golden Horseshoe and the broader Great Lakes region as a nationally significant hub for advanced marine manufacturing and shipbuilding.

Quotes

Kim Hee-cheul, President and CEO, Hanwha Ocean

"Our objective is not simply to transfer expertise, but to embed Hanwha Ocean's advanced shipbuilding processes and operational know-how directly into Ontario Shipyard operations. By doing so, we are strengthening Canada's domestic industrial base, supporting high-quality Canadian jobs, and ensuring long-term workforce readiness. This partnership reflects our commitment to building sustainable submarine construction and sustainment capacity in Canada, fully aligned with the objectives of the Canadian Patrol Submarine Project."

Shaun Padulo, President and CEO, Ontario Shipyards

"At its core, this partnership is about people. With Hanwha Ocean working alongside our teams and Mohawk College training the next generation in a live shipyard, we are building the Canadian workforce that will deliver and sustain Canadian ships for decades to come. That is how sovereign capacity is created. This partnership activates Ontario's industrial strength in direct support of the National Shipbuilding Strategy and the future of the Royal Canadian Navy and creates meaningful long-term careers for Canadians.

Paul Armstrong, President, Mohawk College

"Mohawk College believes in the strength and power of industry-led learning. By working alongside Hanwha Ocean and Ontario Shipyards, we are creating an environment where expertise, innovation, and education come together to support workforce development. This collaboration will strengthen advanced manufacturing and shipbuilding capability in Canada and help build the skilled talent required for long-term success in a rapidly evolving marine sector."

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/hanwha-ocean-signs-landmark-agreements-to-strengthen-canadas-sovereign-defence-industrial-capacity-expand-domestic-shipbuilding-workforce-and-accelerate-large-scale-shipbuilding-in-ontario-302692264.html

SOURCE Hanwha Ocean

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