OTTAWA — Industry Minister Mélanie Joly is heading to Asia for a five-day mission focused on securing major industrial and defence-related investments, including meetings with Hanwha, one of the companies bidding on Canada’s multibillion-dollar submarine procurement project.
Joly’s trip, which runs through Friday, includes stops in Seoul and Busan, South Korea, followed by meetings in Tokyo. Her agenda features discussions with top government officials and leading firms involved in sectors Ottawa considers critical to Canada’s economic and national-security interests — including shipbuilding, mining, automotive production, and electric-vehicle battery manufacturing.
The visit comes as Canada aggressively seeks to expand its non-U.S. export markets and strengthen industrial partnerships in the Indo-Pacific region. It also follows Prime Minister Mark Carney’s visit to South Korea last month, during which he toured a Hanwha submarine production facility.
Hanwha is one of two bidders competing to supply Canada with up to 12 new submarines, a landmark procurement aimed at replacing the aging Victoria-class fleet, expected to be retired within the next decade. The project is poised to be one of Canada’s largest defence purchases ever.
Joly’s meetings also coincide with the expected release of Canada’s new defence industrial strategy, which will outline the government’s long-term plan for strengthening domestic manufacturing, securing supply chains, and supporting military procurement.