In a move showing Korea’s deepening industrial ambitions in North America, Hanwha Group signed a comprehensive memorandum of understanding with the government of Alberta in Canada, bridging sectors from energy infrastructure to high-stakes defense procurement. The agreement, formalized in Edmonton, brings together one of Korea’s largest conglomerates and the leadership of Canada’s energy heartland, including Premier of Alberta Danielle Smith and Minister of Jobs, Economy, Trade and Immigration Joseph Schow. Led by Hanwha Energy CEO Lee Jae-kyu, the Korean delegation laid out a road map for a long-term industrial anchor in the Canadian province involving key affiliates such as Hanwha Ocean, Hanwha Aerospace, and Hanwha Power. While the partnership emphasizes a shared interest in the low-carbon energy transition — specifically targeting liquefied natural gas, hydrogen, and carbon capture and storage — the geopolitical undercurrents are equally significant. The deal arrives as Hanwha Ocean aggressively presses to bid for the Royal Canadian Navy’s multibillion-dollar submarine
Hanwha expands foothold in Canada through partnership with Alberta
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