South Korean Shipbuilder Withdraws from Hamilton Partnership After Losing Bid for Navy Submarine Contract The recent decision by Canada to award a multibillion dollar submarine contract to German company ThyssenKrupp Marine Systems (TKMS) has sent shockwaves through the country's shipbuilding industry.
In response, South Korean shipbuilder Hanwha Ocean is withdrawing from its partnership with Ontario Shipyards and Mohawk College in Hamilton to develop a naval training hub.
The partnership between Hanwha, Ontario Shipyards, and Mohawk was touted as a game changer for Canada's shipbuilding industry, promising not only jobs but also cutting edge technology and training opportunities.