Hanwha Ocean shares rose more than 4% on the morning of the 23rd. A government official from Canada visited domestic business sites ahead of bidding for a large-scale Canadian submarine program worth up to 60 trillion won.
As of 9:55 a.m. that day, Hanwha Ocean was trading at 143,300 won on the Korea Exchange, up 5,600 won (4.07%) from the previous session.
Earlier, Hanwha Ocean said that Minister Victor Fedeli, Ontario's Minister of Economic Development, visited Hanwha Ocean's Geoje business site on the 22nd as bidding approaches for the "Canadian Patrol Submarine Project (CPSP)."
Hanwha Ocean said it explained to Minister Fedeli the design and production process of the CPSP proposed model submarine. It was also reported to have presented industrial cooperation plans related to "Industrial and Technological Benefits" (ITB), a key item in the Canadian submarine program, introducing expected investment and employment effects across Canada, including Ontario.