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flag Australia allows Hanwha to raise its Austal stake to 19.9% under security conditions, bolstering defense ties with Japan.

flag Australia has approved South Korea’s Hanwha Group to increase its stake in shipbuilder Austal from 9.9% to 19.9%, following a review of national security and economic interests. flag The decision, which allows the deal to proceed with strict conditions, addresses Japan’s concerns over regional tensions and intellectual property risks. flag Hanwha will remain a minority shareholder, with limits on access to sensitive information, data storage, and board appointments. flag The move supports Australia’s defense partnership with Japan, including a $10 billion project to build Japanese frigates at Perth’s Henderson shipyard.

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