Shinhan Financial Group Establishes 300 Billion KRW Fund as Digital Investment Resource

Shin Yong-byeong, Chairman of Shinhan Financial Group (right), and Jung Woon-jin, President of Shinhan Capital, are posing for a commemorative photo after the signing ceremony of the 'One Shinhan Connect New Technology Investment Fund No. 1'.

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group is establishing a fund worth 300 billion KRW for strategic investments in the digital sector.

On the 31st, according to Shinhan Financial, Chairman Cho Yong-byeong, along with President Jung Woon-jin of Shinhan Capital, President Lee Seong-yong of Shinhan DS, and Chief Digital Officers (CDOs) of major group affiliates, held a signing ceremony for the 'One Shinhan Connect New Technology Investment Fund No. 1' at the Shinhan Bank Gwanggyo Building on Cheonggyecheon-ro, Jung-gu, Seoul.

This fund is the first digital strategic investment (SI) fund by a domestic financial company, aimed at strengthening Shinhan Financial's digital capabilities by investing in promising ventures, startups, and prospective unicorn companies.

Affiliates including Shinhan Bank, Shinhan Card, Shinhan Investment Corp., and Shinhan Life Insurance participated as investors, raising a total fund of 300 billion KRW, with Shinhan Capital acting as the fund manager (GP).

Through the established fund, Shinhan Financial plans to build 'ABCD technologies' such as Artificial Intelligence (AI), Blockchain, Cloud, and Data, as well as non-financial content and platforms.

Chairman Cho stated, "We have made a group-level digital strategic investment decision with the determination to proactively discover and nurture future unicorn companies and build a digital ecosystem that transcends the boundaries of finance. We will continue to actively pursue bold investments to evolve into a true digital financial company."

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