Hanwha Group is seeking to acquire the US arm of Austal, Australia's biggest shipbuilding company, in a move to substantially strengthen the South Korean conglomerate’s shipbuilding and defense presence in the US. Hanwha Defense USA, a US subsidiary of Hanwha Aerospace, said Tuesday it has submitted “a preliminary, non-binding offer to acquire Austal’s US business.” Based in Mobile, Alabama, Austal USA builds vessels for the US Navy and the Coast Guard. “Hanwha has made it a priority to significantly contribute to revitalizing American shipbuilding and is exploring a range of options to expand our footprint in the United States,” Hanwha Defense USA said in a statement. Observers say acquiring Austal USA, an established naval contractor in the country, could strengthen Hanwha’s ability to participate more broadly in US military shipbuilding and deepen bilateral shipbuilding cooperation under MASGA.