Hanwha Ocean's Stock Plunges Over 20% After Canada Cancels Submarine Deal The cancellation of a major submarine deal between Canada and South Korean defense company Hanwha Ocean has sent shockwaves through the global defense industry, wiping out over 20% of the company's stock value in a single day.
This latest development marks the culmination of a series of events that have been unfolding for months. What Happened to Hanwha Ocean?
The deal, worth an estimated hundreds of millions of dollars, was terminated due to technical issues and delays that had plagued the project since its inception.