Shinhan Bank Accepts Voluntary Compensation for Hong Kong ELS... Procedures to Begin Next Month

Customer Contact Begins in April... "Swift Compensation"

Shinhan Bank held a board meeting on the morning of the 29th and announced on the 29th that it has accepted the Financial Supervisory Service's Hong Kong H Index (Hang Seng China Enterprises Index·HSCEI)-based Equity-Linked Securities (ELS) loss-related dispute mediation standards and decided to provide voluntary compensation to investors.

Accordingly, Shinhan Bank plans to set a basic compensation rate according to the standards, verify the facts, and calculate the final compensation rate by reflecting individual investor considerations. In particular, it plans to expedite the compensation process by establishing a voluntary mediation council within the Consumer Protection Group, which includes external experts in financial product knowledge, consumer protection policies, and laws.

Shinhan Bank intends to start contacting customers from April to provide guidance on compensation details and procedures, and to pay compensation to customers whose compensation rate negotiations have been completed.

A Shinhan Bank official stated, “We decided to carry out voluntary compensation according to the dispute mediation standards as a way to express our willingness for prompt compensation, prioritizing customer value and trust restoration. We will swiftly proceed with compensation for customers who incurred losses and establish measures to prevent recurrence of issues pointed out during inspections, fulfilling our social responsibility as a corporate citizen.”