Mr. Byungkeun Jun, Head of Energy Business Development Division, Executive Vice President, Hanwha Energy; His Excellency Mr. Ki-mo Lim, Ambassador of the Republic of Korea to Canada; Mr. Jae-Kyu Lee, CEO, Hanwha Energy Corporation; Danielle Smith, Premier of Alberta; Joseph Schow, Minister of Jobs, Economy, Trade and Immigration; Martin Long, Minister of Infrastructure
Alberta’s government has signed a memorandum of understanding (MOU) with Hanwha Group to establish a framework for investment across key sectors where Alberta has proven strengths, including energy and natural resources, manufacturing and defence industrial capabilities.
The agreement sets a clear path for investment and long-term partnerships that support economic growth, expand market opportunities and strengthen the province’s role in critical supply chains.
“Alberta is earning the attention of global partners because we deliver results. This agreement with Hanwha Group creates new opportunities to bring investment into our province, grow high-value industries and support good-paying jobs for Albertans. We are focused on turning partnerships like this into real projects that strengthen our economy.”
“On the horizon is major investment with more focus being put on defence manufacturing and energy production. This agreement positions Alberta even stronger as a trusted partner for global investment. By strengthening relationships with international leaders like Hanwha Group, we are supporting economic diversification that leads to real benefit for our province and the people who call it home.”
“Alberta has some of the largest energy reserves in the world. We have the goal of doubling our oil production by 2035 to meet a growing global demand and strengthen energy security for Canada, North America and our trading partners.”
Hanwha Group is one of South Korea’s largest companies, with global operations spanning aerospace and defence, energy systems, advanced manufacturing, shipbuilding, offshore energy infrastructure, and finance and hospitality services. Through the MOU, Alberta’s government and Hanwha will explore opportunities for commercial partnerships, information and expertise sharing and long-term economic ties.
“This partnership reflects a long-term view of Canada – not only as an energy partner, but as a strategic industrial counterpart. By aligning capabilities across energy, natural resources, shipbuilding, high technology, advanced manufacturing and other areas, we see an opportunity to contribute to Canada’s economic resilience and future industrial capacity.”
The agreement also supports Alberta’s growing role in energy security and the hydrogen economy, while reinforcing the province’s position in global manufacturing and defence supply chains.
Quick facts
- Key Hanwha entities that will be engaged under the MOU include Hanwha Ocean, Hanwha Energy, Hanwha Power and Hanwha Aerospace.
- Hanwha Energy is exploring opportunities in hydrogen production and export in Alberta.
- The MOU establishes a non-binding framework to explore potential commercial collaboration and investment opportunities.
- This is the first MOU Hanwha has signed with a provincial government in Canada.