150 Participants Including Overseas Subsidiary Board Members
Shinhan Bank announced on the 16th that it will hold the 'Global Conference Week,' a consultative body schedule to discuss solutions and action plans for global business promotion, for about two weeks until the 25th.
The Global Conference Week will be conducted in a hybrid format of face-to-face and virtual meetings, with the participation of about 150 people including board members of 10 overseas subsidiaries, heads of overseas branches, key function resident officers, and employees from Shinhan Bank's global strategy and business departments. The theme of this event is Connect & Act.
On the first day of the event, a session was held at the main auditorium of the headquarters in Jung-gu, Seoul, with President Jeong Sang-hyuk and board members of overseas subsidiaries participating. The session included discussions on the direction of changes in global strategy and global governance, presentations of best practices in board operations, sharing experiences and knowledge of each subsidiary's board, and exploring cooperation methods among attendees.
Shinhan Bank will conduct various programs during this Global Conference Week. It plans to share the first half-year review and key plans for the second half of the year for global business through video conferences with heads of overseas branches in the sales field, and hold a global management strategy meeting to discuss the strategic orientation and vision of global business with about 50 resident officers responsible for key functions such as strategy, compliance, and finance.
President Jeong said, "For Shinhan Global to continue steady growth and be loved on the world stage for a long time, the customer's 'firm trust' must be firmly supported," adding, "Let us focus more on building trust with customers by thoroughly complying with local overseas regulations and strengthening an internal control culture that carefully monitors the surroundings."
Meanwhile, Shinhan Bank operates overseas subsidiaries in 10 countries including Vietnam, Japan, and China. In the first quarter, the net profit of overseas subsidiaries was about 140.1 billion KRW, showing a growth trend with an approximately 8% increase compared to the same period last year.
Shinhan Bank is working to strengthen capabilities with the goal of having the global division's net profit ratio exceed 40% by 2030. In markets where it has secured market dominance such as Vietnam and Japan, it plans to take bold challenges using retained earnings through inorganic growth strategies such as mergers and acquisitions.
In addition, in regions benefiting from supply chain restructuring such as North America and Eastern Europe, it plans to expand business coverage and actively generate results by utilizing related organizations such as commercial bank-based investment banks (CIB). Furthermore, in Asian developing markets, it intends to increase market share by participating in the digital-based retail market and pursue differentiated growth strategies through equity investments.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
