Shinhan Financial Group Recommends Executive Vice President Jeong Sang-hyeok as New Shinhan Bank President Candidate

Resignation of Bank President Han Yong-gu Due to Health Reasons

[Asia Economy Reporter Yu Je-hoon] Jeong Sang-hyeok, Executive Vice President and Head of the Treasury Market Group, has been recommended as the new candidate for CEO of Shinhan Bank.

On the 8th, Shinhan Financial Group held a subsidiary management committee and an extraordinary board meeting at its headquarters in Jung-gu, Seoul, and announced that Executive Vice President Jeong was recommended as the new candidate for CEO of Shinhan Bank. This follows the resignation of CEO Han Yong-gu, who took office in December last year, due to health reasons.

Born in 1964, Executive Vice President Jeong graduated from Deokwon High School and Seoul National University with a degree in International Business Administration. He joined Shinhan Bank in 1990 and has held various positions including Branch Manager of Dunchon-dong, Head of Customer Satisfaction Center, Head of Consumer Protection Center, Branch Manager of Samsung-dong, Head of Yeoksam Station Financial Center, Chief of the Secretary Office, Managing Director of the Management Planning Group, Executive Vice President and Head of the Management Planning Group, and Head of the Treasury Market Group. He is known as a finance and strategy expert. Notably, Jeong served as Chief of the Secretary Office during the tenure of Jin Ok-dong, the designated CEO of Shinhan Financial Group, closely assisting him.

Jeong is said to possess a broad understanding of the characteristics of traditional banking and recent issues, and has rich experience, including outstanding sales performance during his time as branch manager in retail and corporate finance. Currently, as Head of the Treasury Market Group, he oversees fund procurement and management, capital policy execution, and is well-versed in internal affairs such as risk management, making him a suitable candidate with crisis response capabilities in the increasingly uncertain financial environment.

A Shinhan Financial Group official stated, "Through the review process for the new CEO candidate at the end of last year, we have already conducted extensive evaluations of many systematically nurtured candidates, so despite the sudden situation, the review process for the new CEO candidate proceeded smoothly. We prioritized candidates' work capabilities and leadership to stably lead the organization for the management stability of the bank, a core subsidiary of the group."

Executive Vice President Jeong is expected to be officially appointed as the new CEO of Shinhan Bank within a week after going through the bank's executive candidate recommendation committee and the shareholders' meeting. His term will last until December 31, 2024, the remaining term of CEO Han.