SHINHAN FINANCIAL GROUP CO Business Summary

Shinhan Financial Group (SHG) operates a diversified financial services model, generating revenue through a balanced mix of net interest income from its lending operations and non-interest income derived from credit card fees, brokerage commissions, and insurance premiums. The group is organized into five core segments: Banking (Shinhan Bank), Credit Card (Shinhan Card), Securities, Life Insurance, and Asset Management. As a dominant force in the South Korean "K-Finance" sector, Shinhan differentiates itself through its "One Shinhan" strategy and the "Shinhan Super SOL" integrated digital platform, which consolidates multi-subsidiary services into a single user interface to drive cross-selling. Its primary competitors include KB Financial Group, Hana Financial Group, and Woori Financial Group; Shinhan consistently vies with KB for the top market position, distinguishing itself with a high non-banking profit contribution and a robust international footprint across Japan and Southeast Asia. The group is led by Chairman and CEO Jin Ok-dong, who assumed the role in March 2023 following a successful tenure as President of Shinhan Bank and CEO of Shinhan Bank Japan (SBJ), where he was credited with accelerating the firm’s digital pivot. Supporting him is Jung Sang-hyuk, President and CEO of Shinhan Bank, who was reappointed in late 2024 to serve through 2026 based on his record-breaking operational performance. Other key executives include Cheon Sang-young, the newly appointed President of Shinhan Life and former Group CFO, and Lee Seok-won, who leads Shinhan Asset Management. Founded in 1982 by a consortium of Korean-Japanese entrepreneurs led by Lee Heui-keon, the company maintains a unique heritage of private-sector agility. Major institutional shareholders include the National Pension Service of Korea, BlackRock, and the Government of Singapore Investment Corporation (GIC), all of whom support the group’s current "Value Up" plan to reach a 50% shareholder return ratio by 2027.