Shinhan Financial Group Launches Productive Finance Task Force... "Boosting Execution of 110 Trillion Won Plan"

Dedicated Departments for Productive Finance
to Be Established in Key Subsidiaries Including Shinhan Bank

Shinhan Financial Group announced on December 28 that it has implemented a group-wide organizational restructuring, including the launch of the Productive Finance Task Force, to improve the real estate collateral-centered financial practices and transition toward a financial structure focused on productive finance.

Shinhan Financial Group Headquarters Exterior.

Previously, Shinhan Financial Group unveiled its “Shinhan K-Growth! K-Finance!” project, announcing its plan to invest a total of 110 trillion won in productive finance and inclusive finance over the next five years, by 2030.

To this end, the group established the “Productive Finance PMO” in September to lay the groundwork for project execution. Last month, this organization was elevated to the “Group Productive Finance Steering Committee,” chaired by the group CEO, to formulate the group’s basic blueprint. The newly launched task force is an integrated organization for promoting and managing productive finance, designed to accelerate the implementation of strategies in the field and enhance effectiveness.

The task force is centered around the Promotion Secretariat, led by the group’s Chief Strategy Officer (CSO), and is composed of four divisions: investment, lending, finance and soundness, and inclusive finance. In addition, through a collaborative system with the heads of the nine subsidiaries driving productive finance, the group plans to devise financial support measures focused on projects with significant ripple effects on high-tech industries and regional economies.

Shinhan Financial Group plans to systematically monitor the progress by regularly operating various meetings, including the Steering Committee, division-specific councils, and executive meetings of the task force. Furthermore, the results of these initiatives will be reflected in the strategic assignments of both the group CEO and the CEOs of its subsidiaries to enhance execution across the entire group.

Dedicated organizations for productive finance will also be established within major subsidiaries. Shinhan Bank will launch the “Productive and Inclusive Finance Department” within its Credit Group to oversee the entire process from system design to operation and risk management. Shinhan Investment Corp. will expand investment and lending to ultra-innovative economy companies through its “Comprehensive Financial Operations Department” based on issuance notes, while Shinhan Capital will strengthen investment expertise by reorganizing its structure around products and functions.

Jin Okdong, Chairman of Shinhan Financial Group, stated, “Shinhan Financial Group is continuously developing practical support measures to expand productive and inclusive finance,” adding, “Based on our mission of ‘Warm Finance,’ we will firmly establish Shinhan’s unique, sustainable model of productive and inclusive finance that grows together with our customers.”