Shinhan Investment & Securities: "35% of Promissory Note Funds to Be Invested in Venture Capital in First Year"

Shinhan Investment & Securities, which has received approval to issue promissory notes, has announced that it will invest 35% of the funds raised in venture capital in its first year, rather than the mandatory minimum of 10%.

On December 17, Shinhan Investment & Securities stated that it had obtained a license for short-term financial business from the Financial Services Commission. The company expects that this approval will serve as a turning point that will significantly enhance its mid- to long-term competitiveness, given its long-standing participation in providing venture capital.

With the newly approved promissory notes, Shinhan Investment & Securities plans to secure a stable funding base and play a pivotal role in the capital market by engaging in productive finance through venture capital investments.

In particular, the company intends to expand long-term growth funds and venture capital investments for innovative companies, as well as small and medium-sized enterprises and mid-sized companies. It also aims to support sustainable growth by establishing organic connections with its corporate finance and capital market divisions. To this end, Shinhan Investment & Securities will invest 35% of the funds raised through promissory notes in venture capital from the first year, rather than the mandatory minimum of 10%.

Lee Sunhoon, CEO of Shinhan Investment & Securities, stated, "This short-term financial business license is not merely an entry into a new business sector, but a mid- to long-term turning point for the company. Based on our extensive investment experience, we will become a trusted financial institution for employees, customers, shareholders, and society by providing genuine venture capital."

Meanwhile, on the same day, the Financial Services Commission also approved a short-term financial business license for Hana Securities. As a result, the number of securities firms authorized to issue promissory notes has expanded to seven, including the existing Korea Investment & Securities, NH Investment & Securities, KB Securities, Mirae Asset Securities, and Kiwoom Securities.