Expanding Collaboration Including Launch of Partnership Installment Savings Product
Shinhan Bank announced on the 16th that it has agreed to collaborate with Hyundai Motor Company on the development of automotive financial products, including installment savings accounts.
At the signing ceremony of the "Hyundai Motor Company-Shinhan Bank Business Agreement" held on the 15th, Ho-sik Jang, Head of Shinhan Bank's CIB Group (right), and Seungchan Kim, Head of Hyundai Motor Company's Domestic Business Division, are taking a commemorative photo. Provided by Shinhan Bank
In connection with this, Ho-sik Jang, Head of Shinhan Bank CIB Group, and Seungchan Kim, Head of Hyundai Motor Company's Domestic Business Division, signed a business agreement at Hyundai Motor Company's Gangnam-daero office building in Gangnam-gu, Seoul, on the previous day.
Through this agreement, the two companies will jointly plan and develop a partnership installment savings product, aiming for launch early next year. After the product launch, they plan to collaborate on promotions utilizing both companies' channels. Shinhan Bank intends to expand customer contact points based on its nationwide financial network, while Hyundai Motor Company aims to provide tangible benefits to car buyers through its extensive vehicle lineup and sales channels.
In addition, the two companies plan to create synergies across a wide range of areas, including the planning, development, and promotion of partnership automotive financial products.
A Shinhan Bank representative stated, "This collaboration is an important opportunity to create new customer value by combining the strengths of both companies," adding, "We will continue to expand differentiated automotive financial services going forward."
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