Shinhan Investment Corp to Launch 'General Currency Exchange' Service Within First Half of Year

Shinhan Investment Corp. announced on the 17th that it will launch general foreign exchange services for individual and corporate customers within the first half of this year.

Until now, foreign exchange through the Shinhan SOL Securities MTS was only available for securities investment purposes, but going forward, it will be possible to conduct general foreign exchange for purposes such as export-import business, studying abroad, and travel.

This follows Shinhan Investment Corp. obtaining approval for general foreign exchange from the Ministry of Economy and Finance in September last year, becoming the second domestic securities company to do so. Earlier, in July 2023, the Ministry of Economy and Finance established foreign exchange transaction regulations allowing securities companies (comprehensive financial investment business operators) to provide general foreign exchange services to individual and corporate customers.

A representative from Shinhan Investment Corp. stated, "We are preparing a process that allows any Shinhan Investment Corp. customer to withdraw foreign currency cash from Shinhan Bank ATMs," adding, "Through collaboration among affiliates within the Shinhan Financial Group, we plan to offer differentiated services compared to other companies."