Algoma Steel would supply material for land vehicles: Hanwha

Algoma would join vehicle supply chain: Hanwha
Algoma would join vehicle supply chain: Hanwha
A scale model of a Hanwha Ocean KSS-III Submarine is shown at the Canadian Association of Defence and Security Industries annual defence industry trade show CANSEC, in Ottawa, on Wednesday, May 27, 2026.
THE CANADIAN PRESS/Justin Tang
Writer

South Korean defence firm Hanwha says it has reached a deal with Algoma Steel to supply military-grade steel for the possible manufacturing of land defence vehicles in Canada.

Hanwha said in April it had reached a separate agreement with Canada’s Automotive Parts Manufacturers’ Association on a prospective joint venture to make military land vehicles for the Canadian Armed Forces and for export to allies.

These agreements, which would support industries hit hard by U.S. tariffs, are contingent on Hanwha winning Canada's contract to supply the navy with a fleet of up to 12 submarines.

The South Korean submarine maker is competing with Germany's TKMS for the massive multi-billion dollar contract.

Hanwha made the steel announcement at a Martinrea International facility in Vaughan, Ont., alongside a delegation of South Korean government officials.

Canadian officials said at an arms expo in Ottawa last week that the federal government is expected to announce the winner of the sub contract this month.

This report by The Canadian Press was first published June 1, 2026.

By Kyle Duggan | Copyright 2026, The Canadian Press. All rights reserved.

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