Ottawa and Seoul Partner on South Korean Auto Manufacturing in Canada
Canada and South Korea have signed a non-binding memorandum of understanding (MOU) to promote automotive manufacturing and investment in Canada. The agreement, signed during a visit by a South Korean government delegation, aims to advance South Korean automotive and electric vehicle (EV) manufacturing in Canada, including battery production and the supply chain. This MOU is linked to South Korea’s bid to win a contract to build submarines for the Royal Canadian Navy, with Ottawa seeking commitments from both South Korea and Germany to facilitate auto industry production pledges in Canada. The potential submarine contract could be worth billions of dollars and lead to long-term international partnerships.
John Q. Hosedrinker