Shin Yong-byeong, Chairman of Shinhan Financial Group, "Achieving a Super Gap with Overwhelming Portfolio Competitiveness"

"Evaluation: 'Completion of a Portfolio Encompassing This Year's Financial Industry'"

[Asia Economy Reporter Yu Je-hoon] Cho Yong-byeong, Chairman of Shinhan Financial Group, said on the 1st, "The next task for the future Shinhan is to establish overwhelming portfolio competitiveness," adding, "Let us firmly establish ourselves as Korea's number one and a comprehensive financial group with a super-gap through a balanced business portfolio including banking and non-banking, domestic and global, face-to-face and non-face-to-face."

In his 21st anniversary speech of Shinhan Financial Group Holding Company on the same day, Chairman Cho stated, "Not only the bank and card company, which already have stable market competitiveness, but all group companies must have first-class competitiveness in their respective fields. Through active communication and collaboration, we must also elevate the group's global and capital market capabilities to the level of advanced financial companies."

Regarding the achievements up to this year, Chairman Cho evaluated, "This year, marking the 21st anniversary of the holding company’s founding, we have completed a portfolio encompassing the entire financial industry. Shinhan Financial has become an aircraft carrier strike group with 15 group companies, continuing the dream of excellence," and added, "Now, taking pride in our past history, we must break through the environment, competition, and practices so far and write a new history of finance."

He also assessed the current market situation, saying, "While uniting our minds toward new finance and spending the past year, our society and industry are undergoing greater changes than ever before," and diagnosed, "Amid the ongoing pandemic and unstable international situation, demographic changes are becoming a reality, and as big tech and digital companies strengthen their competitiveness, the financial industry has become a borderless arena of competition."

He continued, "An era of complex great transformation, where various changes come all at once, has begun," and pointed out, "It is a time when broad insights from new perspectives are needed to uphold social standards and values and to solve the problems facing the financial industry."

Regarding Shinhan’s future vision, Chairman Cho emphasized, "Based on the Digilog strategy, which harmonizes emotion and technology, let us complete customer immersion by providing easier, more comfortable, and newer financial services."

Furthermore, presenting the concept of a super-gap comprehensive financial group, he said, "The core driving force that creates such value and competitiveness is a differentiated culture and capability," and stressed, "Let all employees demonstrate creativity and initiative through self-leadership to complete innovation within the cell."

Chairman Cho stated, "The ultimate form that future Shinhan aims for is to create a financial ecosystem of empathy and coexistence," and added, "Let us make ESG (Environmental, Social, and Governance) management a daily standard, innovate to protect the environment, diligently help neighbors in difficulty, and uphold fairness and diversity. Based on the precious mission of making the world better through finance, let us create a financial ecosystem of empathy and coexistence led by Shinhan."