Hanwha Secures Approval to Increase Stake in U.S. Navy Shipbuilder Austal

According to a recent report from Hanwha Group, the company has received the green light from the Committee on Foreign Investment in the United States (CFIUS) to boost its stake in australian shipbuilder austal Limited to a full 100%. This marks an critically importent step for Hanwha as it seeks to deepen its roots in the U.S.shipbuilding industry.Currently, thay own 9.9% of Austal, which they purchased back in March 2025, with plans to raise that share to 19.9%.

Austal USA, a subsidiary based in America, plays a crucial role as a military shipbuilder and defense contractor for the U.S. government. The CFIUS concluded that there were “no unresolved national security concerns” regarding Hanwha’s increased investment.

Michael Coulterd,CEO of Hanwha Global Defense,expressed optimism about this decision: “The outcome from CFIUS reflects our strong backing within U.S.governmental circles.” He added that there is considerable interest from U.S. officials for transferring technology and practices from south Korea aimed at enhancing American shipbuilding capabilities.

This development comes amid efforts by both Congress and the Trump administration to revitalize the struggling U.S. shipbuilding sector—an industry grappling with delays and budget overruns affecting naval fleet maintenance and construction projects. Demonstrating their commitment, Hanwha recently acquired Philadelphia Shipyard and completed maintenance work on USNS Wally schirra—the first instance where a Korean yard has handled maintenance for a U.S. Navy vessel.

Hanwha’s strategic move into Austal is anticipated to provide significant benefits such as access to capital resources, international partnerships, and operational no-how sence around 80% of Austal’s revenue comes from its American operations across facilities located in Mobile (Alabama), San Diego (California), and Charlottesville (Virginia).However, before moving forward with increasing their ownership stake to 19.9%, approval is still needed from Australia’s Foreign Investment Review Board—a necessary step following an earlier attempt by Hanwha last year that did not succeed in acquiring all of Austal.

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