L-R: 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 (Image Credit: Supplied)

By Josh Hall

defence supply chains

Alberta and South Korea sign MOU on global energy, manufacturing

Apr 21, 2026 | 5:14 PM

The Government of Alberta has secured another deal with a South Korean partner.

Announced Tuesday, the province says it has secured an MOU with Hanwha Group to attract investment and strengthen its role in global energy, manufacturing, and defence supply chains.

This comes just a couple days after Alberta shared it had agreed with the South Korean government to eliminate a three per cent tariff.

“On the horizon is major investment with more focus being put on defence manufacturing and energy production,” says Joseph Schow, minister of jobs, economy, trade and immigration.

“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.”

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Hanwha Group is described as 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 says it 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,” says Jae-Kyu Lee, CEO, Hanwha.

“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 Government of Alberta notes the agreement also supports Alberta’s growing role in energy security and the hydrogen economy.

by Josh Hall

Alberta and South Korea sign MOU on global energy, manufacturing

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