Lee Seonhoon Appointed President of Shinhan Investment Corp... Kim Sangtae Eventually Resigns as President

Recommendation of Vice President Lee Seon-hoon of the Self-Defense Police

Lee Seon-hoon, Vice President and Head of Asset Management Division, has been appointed as the new CEO of Shinhan Investment Corp. Going forward, Shinhan Investment Corp. plans to implement various follow-up measures to improve organizational structure under Lee Seon-hoon's leadership, following the derivatives incident. Former CEO Kim Sang-tae resigned in connection with the loss incident involving exchange-traded funds (ETFs).

According to Shinhan Financial Group on the 5th, Lee was recommended as the new CEO of Shinhan Investment Corp. at the subsidiary CEO Candidate Recommendation Committee (Sajeongwi) meeting held that morning.

Lee joined Shinhan Investment Corp. in 1999, handling retail and strategic planning. Having served as CEO of an external securities firm before returning, he is regarded as a figure who combines internal understanding with an objective external perspective.

Shinhan Financial Group explained that, given the various issues that have arisen in internal control and risk management, the new CEO's role as the company-wide risk management control tower will be further emphasized.