Shinhan Bank to Invest 3.7 Trillion Won in the UK by 2030

President Jung Sanghyuk Discusses Cooperation with UK Minister
Shinhan Bank to Invest 3.7 Trillion Won in UK Infrastructure by 2030

Shinhan Bank is planning to invest approximately 3.7 trillion won in infrastructure projects and other sectors in the United Kingdom by 2030.

On the 22nd (local time), at the UK Foreign, Commonwealth & Development Office headquarters in London, South Korea, Shin Sanghyuk, CEO of Shinhan Bank (right), and Catherine Elizabeth West, UK Foreign, Commonwealth & Development Office Deputy Minister for Asia-Pacific, posed for a commemorative photo after a meeting on private financial institution investment cooperation. Provided by Shinhan Bank

During his visit to London, President Jung Sanghyuk signed a memorandum of understanding on July 22 (local time) with Baroness Poppy Gustafsson, Director of the UK Department for Business and Trade's Investment Office, to expand investments by 2 billion pounds, thus confirming this plan.

Shinhan Bank had previously signed an MOU with the UK Department for Business and Trade in November 2023 and has since invested 460 million pounds (approximately 860 billion won) to date. The bank plans to increase this cumulative investment to 2 billion pounds by 2030.

On the same day, President Jung also met with Catherine Elizabeth West, Minister for Asia-Pacific at the UK Foreign, Commonwealth & Development Office, to discuss cooperation measures aligned with the UK's 'Modern Industrial Strategy' and '10-Year Infrastructure Strategy.'

A Shinhan Bank representative stated, "Starting with the relocation of our London branch, we will support various industries in the UK and pursue stable growth, further enhancing Shinhan's global competitiveness. At the same time, as a headquarters covering the entire EMEA region, we will faithfully serve as a financial bridge connecting Europe, the Middle East, and Africa."

Meanwhile, Shinhan Bank held a relocation ceremony for its London branch on July 21 and also signed a strategic memorandum of understanding with the Africa Finance Corporation.