Shinhan Card, Industry's First to Spin Off In-House Venture

In-house Venture 'CV3' for Shopping Information Curation
First Spin-off Since the Introduction of the In-house Venture System in 2016

Moon Dong-kwon, Head of Shinhan Card Management Planning Group (right), is presenting a nameplate to Yang Jin-ho, CEO of CV3 (left).

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 1st that it will spin off the in-house venture 'CV3 (C V Three)', nurtured through the in-house venture incubation program I'm Ventures, as an independent corporation, the first in the card industry.

CV3 is the new corporate name of I'm Ventures 4th batch AdVenture, and like the name cosmic velocity 3, it carries the meaning of becoming a startup that rapidly evolves by breaking free from inertia.

CV3 is a company that collects and analyzes shopping information such as discounts, new products, limited editions, and live commerce product-specific broadcast information, and provides it according to customers' interests. It operates the shopping information subscription platform application 'B4Shopping'.

The B4Shopping app collects shopping information from various channels such as SNS, messengers, text messages, and websites, classifies it by hashtags, and provides it so that customers can subscribe by topic or brand according to their interests. CV3 has been recognized for its business potential and is preparing to attract additional investment from the startup accelerator JNP Global.

Shinhan Card will make a 200 million KRW equity investment following the spin-off of the in-house venture, and Shinhan Financial Group will also provide various benefits such as office space, incubating education, mentoring, and IR through the group's startup incubation platform Shinhan Square Bridge.

Meanwhile, Shinhan Card held the launch ceremony for the 6th batch of I'm Ventures at its headquarters in Euljiro and selected promising in-house ventures and startups that can create synergy. The teams selected this year are 'PayDays', which provides a service allowing platform workers to receive income as card points first; 'ArtPlus', which connects customers and suppliers (galleries, art fairs, etc.) in the cash-dominated art purchase market to the Shinhan Card payment platform; and 'Alchago', which offers a maintenance agency service platform for busy imported car owners.

Moon Dong-kwon, Vice President and Head of the Management Planning Group at Shinhan Card, said, "We provide various support programs such as business development funds, office space, and performance rewards to spin off and internalize excellent in-house ventures. Through this, we aim to enhance employees' creativity and spirit of challenge and discover future new growth engines." He added, "In connection with Shinhan Financial Group's Neo Project, we will continuously strive to strengthen Shinhan Card's competitiveness and contribute to the activation of the government's K-New Deal policy and support for the growth of innovative companies."

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