South Korea’s failed bid to win Canada’s next-generation submarine project has highlighted both the competitiveness of its defense industry and the limits it faces in major NATO markets. On Monday, Canada named Germany’s Thyssenkrupp Marine Systems as the preferred bidder for the Canadian Patrol Submarine Project. The program calls for up to 12 conventionally powered submarines for the Royal Canadian Navy. Hanwha Ocean, which competed with its KSS-III-based proposal, was named the reserve bidder