Shinhan Card, Industry's First ESG Report Published... "Focusing on Bridging the Digital Divide This Year"

2021 ESG Management Keywords
Bridging the Digital Divide for Vulnerable Groups and Fostering ESG-Based Startups

[Asia Economy Reporter Ki Ha-young] Shinhan Card has become the first in the industry to publish an 'Environmental, Social, and Governance (ESG) Performance Report' and has set this year's ESG management policy as 'Bridging the Digital Divide for Vulnerable Groups.'

On the 25th, Shinhan Card announced that it has published an ESG performance report covering its ESG strategies and activities over the past two years. The report includes various ESG management activities such as multifaceted support measures for regions and industries affected by the COVID-19 crisis, support for low-income finance, and the issuance of ESG bonds (KRW 100 billion domestically, USD 400 million overseas) for eco-friendly management. Last year, Shinhan Card also established the industry's first dedicated ESG organization.

In particular, Shinhan Card has set this year's ESG management keyword as 'Bridging the Digital Divide for Vulnerable Groups.' The plan is to build the ecosystem foundation of the data economy, which is accelerating after COVID-19, and to focus on protecting digitally vulnerable groups.

To this end, Shinhan Card has decided to jointly carry out digital divide reduction projects with the Credit Card Social Contribution Foundation and the Children and Future Foundation. Based on the 508 libraries nationwide established through the 'Areumin Library' project conducted over the past 11 years, various digital infrastructure constructions and customized digital education will be actively promoted.

In line with Shinhan Financial Group's ESG management policy this year, Shinhan Card will also nurture data-based ESG startups in collaboration with the Korea Productivity Center. The support targets startups that create social value based on data and ICT or focus on eco-friendly businesses. Selected startups will receive various support to discover ESG value-creating business models through incubation by Shinhan Card and the Korea Productivity Center.

Starting this year, Shinhan Card plans to introduce public interest business models in its MyData and credit evaluation (CB) services for individual business owners, which are being actively developed, while also utilizing its data to help increase sales for self-employed individuals affected by the COVID-19 crisis. As part of Shinhan Financial Group's 'Zero Carbon Drive,' it will also strive to develop global data projects that contribute to carbon reduction in response to climate change.

In his greeting in the ESG performance report, Shinhan Card CEO Lim Young-jin stated, "This year, we will lead the data economy era by combining open digital innovation and sustainable finance, and strengthen digital-based ESG management that enhances social value by bridging the digital divide for vulnerable groups."

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