Shinhan Life Strengthens Internal Controls... Establishes Separate TF

Composed of Compliance Monitoring Team and Related Departments
"Strengthening Internal Controls and Prioritizing Consumer Protection"

Shinhan Life has formed a separate task force (TF) to actively strengthen internal controls and consumer protection.

Shinhan Life announced on the 27th that it is reinforcing internal controls to practice ethical compliance management. Accordingly, a TF was formed centered on related departments such as the Compliance Monitoring Team and the Consumer Protection Team. Through the TF, the company plans to segment the characteristics of the insurance industry and prepare internal control improvement measures for consumer protection in each area.

Additionally, to strengthen internal controls for employees this year, training will be conducted using various platforms such as the company intranet, educational applications, and mobile Learning Management Systems (LMS). Furthermore, Shinhan Financial Group will jointly conduct self-assessment and training on ethical compliance for all employees.

Earlier, Lee Young-jong, CEO of Shinhan Life, stated at the management strategy meeting in January that as sustainable management of insurance companies has become important, strengthening internal controls and consumer protection will be set as top priorities.

Lee Chang-hyun, Compliance Officer of Shinhan Life, said, "Recently, corporate social responsibility and ethical integrity have been especially emphasized," adding, "We will establish ethical compliance management as the top principle in decision-making and continuously promote proactive internal control inspections and process enhancements."