S.Korea loses bid for Canada's multibillion-dollar submarine contract: local media

A South Korean consortium may lost its bid for Canada's multibillion-dollar submarine procurement program, with the Canadian government selecting Germany's Thyssenkrupp Marine Systems as the preferred bidder, The Globe and Mail reported Monday, citing anonymous sources.

According to the report, Canadian Prime Minister Mark Carney is expected to officially announce the decision later Monday in Halifax, bringing to a close the competition launched in August 2025.

The bidding process drew sweeping ...