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Canada picks Germany's TKMS for submarine mega project: Report

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·Canada chose Germany’s TKMS for a 12-submarine contract, according to a Canadian media report, dealing a setback to Korea's Hanwha Ocean despite Seoul’s push on speed and technology.

·Canada has picked Germany’s TKMS as the preferred bidder for its large-scale submarine project, according to the Canadian newspaper The Globe and Mail, dampening the hopes of Korea’s Hanwha Ocean to win the deal.

·Citing two unnamed sources, the report said the German defense firm has won the contract to build 12 submarines for Canada, although Canadian Prime Minister Mark Carney is scheduled to officially announce the winner before flying to Turkey for the NATO summit, which begins on Tuesday.

·Despite Korea's promise of faster delivery and advanced technology, analysts say Canada's decision was driven by its strategic priority of deepening security ties with fellow NATO member Germany.

·Still, Hanwha Ocean struck a cautious note regarding the report.