Shinhan Executives Wearing Civil Defense Uniforms... Emergency Support Situation Review Meeting to Overcome COVID-19

Emergency Video Conference Held with Chairman Cho Yong-byeong and Key Group CEOs and Executives

[Asia Economy Reporter Haeyoung Kwon] Shinhan Financial Group announced on the 8th that on the 6th, Chairman Jo Yong-byeong and CEOs and executives of major group companies held an "Emergency Support Status Review Meeting to Overcome the Novel Coronavirus Infection (COVID-19)."

This meeting was held to inspect the on-site situation mainly in the Daegu and Gyeongbuk regions, which were severely affected by COVID-19, and to prepare practical support measures for employees working on the front lines and local small business owners facing difficulties.

During the meeting held in video conference rooms prepared at each company, Shinhan Financial executives began by reviewing the Business Continuity Plan (BCP) and response status related to COVID-19, and discussed various financial and non-financial support measures to assist medical staff dedicated on the front lines, families of patients in difficulty, and local small business owners. In particular, the meeting devoted the most time to listening to voices from the Daegu and Gyeongbuk sites. Bank headquarters heads and card branch managers from this region conveyed vivid voices from the field from various perspectives including customers, employees, and the local community.

▲ Shinhan Bank offered special interest rate loans for medical staff and waived the entire monthly rent for bank-owned buildings in the Daegu and Gyeongbuk regions to support small business owners ▲ Shinhan Card postponed payment claims for customers affected by COVID-19 for up to six months and promoted projects to revitalize the Daegu and Gyeongbuk commercial districts ▲ Shinhan Investment Corp. provided funding consulting for medium and small enterprises in Daegu and Gyeongbuk and cooperated with Daegu City to support food supplies for the underprivileged ▲ Shinhan Life Insurance allowed deferral of insurance premiums and loan principal and interest payments for customers affected by COVID-19 and provided the Cheonan Training Center as a medical space in case of an increase in confirmed cases in Daejeon and Cheonan ▲ Orange Life introduced a special reinstatement system to prevent contract termination due to non-payment of premiums by confirmed and quarantined individuals, among other measures.

Chairman Jo said, "I hope we can be of some help to patients and their families suffering from COVID-19, local small business owners, and medical staff fighting COVID-19 on the front lines." He added, "In difficult situations like this, close communication within the group companies in the region as well as between headquarters and branches is important," and emphasized, "We must ensure thorough customer service from the perspective of One Shinhan, not individual group companies, and take good care of the health of ourselves, our families, and employees. Executives should quickly respond to voices from the field and use this as an opportunity to drastically improve existing work processes."