Shinhan Financial Group Recommends Two New Outside Directors, Including a Female Outside Director

[Asia Economy Reporter Haeyoung Kwon] Shinhan Financial Group held a regular board meeting on the 5th, confirming the date and agenda for the shareholders' meeting and recommending two new outside director candidates.

On this day, the Shinhan Financial Group board recommended two outside directors for new appointments: Professor Jaewon Yoon of the College of Business Administration at Hongik University and Hyunduk Jin, CEO of Fedora.

The Shinhan Financial Outside Director Candidate Recommendation Committee (ODCRC) stated, "Candidate Jaewon Yoon is a distinguished scholar specializing in accounting and taxation, having actively served as an advisor to various accounting and tax-related academic societies and government agencies. Her outstanding capabilities in this field have been highly evaluated."

If Yoon's appointment is confirmed at this shareholders' meeting, she will become the only female outside director on the Shinhan Financial Group board. Additionally, as a young female director born in 1970, Yoon is expected to contribute to gender diversity and broad perspectives in the board's decision-making process, according to the ODCRC.

Candidate Hyunduk Jin is the CEO of Fedora, a company engaged in complex cultural facility businesses, and also serves as a professor teaching business administration at two universities. Jin was recommended through Shinhan Financial's 'Outside Director Candidate Shareholder Recommendation Contest.'

An ODCRC official explained, "We expect candidate Jin to perform diligent advisory activities by harmoniously applying her practical management experience and academic knowledge to respond to the increasingly complex business environment."

Meanwhile, under the 'Act on the Corporate Governance of Financial Companies,' Director Manwoo Lee, who has completed a six-year term at Shinhan Financial, and Director Hwanam Kim, who has completed a total of nine years including group companies, will retire after the regular shareholders' meeting in March this year. Furthermore, the Shinhan Financial board recommended the reappointment of four outside directors whose terms expire in March this year: Chul Park (former Vice Governor of the Bank of Korea), Yuki Hirakawa (CEO of Premier Korea), Ansun Park (Chairman of Daesung Sangsa), and Kyungrok Choi (CEO of CYS). Philip Avril, a former outside director and director at BNP Paribas Securities Japan, was newly recommended for appointment as a non-executive director with a one-year term.

Additionally, at the Audit Committee Candidate Recommendation Committee held simultaneously on this day, two candidates, Jaewon Yoon and Yoonjae Lee, both outside directors, were recommended as audit committee candidates.

The outside director and audit committee candidates recommended on this day are expected to be finally appointed upon approval at the regular shareholders' meeting to be held this month.

This content was produced with the assistance of AI translation services.