German Chancellor Friedrich Merz (left) and Canada's Prime Minister Mark Carney arrive for a joint press conference on Tuesday in Berlin.

The Canadian government has shortlisted two companies – one from Germany and one from South Korea – as the final contenders to supply the Royal Canadian Navy with up to 12 new diesel-electric submarines.

Prime Minister Mark Carney announced the decision Tuesday in Berlin, where he met with German Chancellor Friedrich Merz.

Mr. Carney and some of his cabinet colleagues are scheduled to visit the manufacturing facility of Germany’s Thyssen Krupp Marine Systems (TKMS) Tuesday afternoon.

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The second shortlisted company is Hanwha Ocean Co., Ltd. of South Korea

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