Canada's submarine competition may look like a defense procurement story.
I think investors should also see it as a test of long-term industrial ecosystems.[Canada Set to Select Submarine Supplier as Hanwha Ocean Makes Final Push](https://www.thelec.net/news/articleView.html?idxno=11807)
I admit I have a personal perspective. Decades ago, I worked on ship exports at Daewoo, one of the predecessors of today's Hanwha Ocean. That experience may be one reason I see this as more than a defense contract.
