HSH Nordbank opening Busan branch

HSH Nordbank opening Busan branch

Hamburg: HSH Nordbank is looking to South Korea to grow its Asian footprint. The German bank has signed a memorandum of understanding with the local Busan government and the Export-Import Bank of Korea (Korea Exim) to collaborate in ship finance. HSH will open a Busan branch to go alongside existing Asian offices in Singapore and Hong Kong.

HSH said the Busan office would offer financing for both Korean and international firms.

Busan, home to Korea’s largest port and a host of shipyards, has been trying to push its ship finance credentials for a number of years.

HSH published a survey in February in which it noted how Asia continues to gain in importance for the European shipping sector.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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