It intends to cooperate with the Export-Import Bank of Korea (Korea Eximbank) and the city of Busan, after signing a deal in Hamburg on Wednesday afternoon.

"This step is consistent with our strategy of not only broadening but also deepening the relationship HSH Nordbank has with its Asian clients," said Torsten Temp, board member with responsibility for shipping.

"Through this collaboration we are creating proximity to the Asian market and laying the foundations for closer ties with one of the world's most important maritime locations."

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