Why South Korea’s submarine exports are running aground

South Korea’s failed bid for Canada’s next-generation submarine fleet has exposed a growing problem for one of Asia’s fastest-rising defence exporters: price, speed and technology may no longer be enough.Analysts said the loss of the submarine-project" class="entity-link entity-event" data-entity-id="165596" data-entity-type="event">Canadian Patrol submarine Project (CPSP) to Germany’s ThyssenKrupp Marine Systems showed how Nato security ties and pressure on member states to favour allied industrial bases were increasingly outweighing commercial competitiveness in decisions over major purchases.“The failure of the CPSP bid poured cold water on South Korea’s defence industry, which has performed strongly in recent years,” said Shin Jong-woo, secretary general of the Korea Defence and Security Forum, a Seoul-based think tank.