Shinhan Financial Group Invests 18 Billion KRW in Three Innovative Digital Companies

Investment in Galaxy Corporation, Zynapse, and Ballan through 'Wonsinhan Connect New Technology Investment Fund No.1' Fund

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 6th that it will invest a total of 18 billion KRW in three innovative digital companies?Galaxy Corporation, Zynapse, and Ballan?through the 'One Shinhan Connect New Technology Investment Association No. 1' fund, the first digital strategic investment (SI) fund by a domestic financial company.

In early April, Shinhan Financial established the One Shinhan Connect New Technology Investment Association No. 1 fund with a total size of 300 billion KRW to strengthen the group’s core digital capabilities by investing in promising ventures, startups, and prospective unicorn companies. Shinhan Capital is managing the fund as the general partner (GP).

Through this investment, Shinhan Financial plans to collaborate with Galaxy Corporation, which holds character intellectual property rights usable on metaverse platforms, and Zynapse, a company specializing in AI video and voice synthesis technology, to secure future customers and activate the group’s digital services.

Additionally, by investing in Ballan, a luxury commerce platform showing high growth, Shinhan Financial expects to expand the group’s T&T (Traffic & Transaction) by acquiring new customers through linking core digital platforms such as Shinhan SOL and Shinhan pLay with non-financial platforms.

A Shinhan Financial official stated, "Shinhan Financial will expand the Shinhan Digital Alliance, our unique digital ecosystem, into various fields to create synergy. We will continue digital strategic investments to strengthen our response to big tech and to leap forward as a leading digital platform company."

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