SEOUL ¨C South Korea¡¯s presidential chief of staff said on Monday he was heading to Canada with Hyundai Motor executives and representatives of shipbuilders Hanwha and HD Hyundai in a bid to win a major submarine contract.
South Korea is competing ?against Germany¡¯s TKMS in a race to win the Canadian project for a new fleet ?of up ?to 12 diesel-powered submarines, estimated by industry sources to be worth more than $12 ?billion.
Chief of Staff Kang Hoon-sik said given the competition against a manufacturing superpower like Germany, ¡°We believe the prospects are not necessarily easy.¡±
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