Shinhan Financial Group Board Recommends Professor Kim Jo-seol of Osaka University of Commerce as Outside Director Candidate

Female Candidate... When Director Yoon Jaewon is Appointed at the General Meeting, There Will Be Two Female Outside Directors

[Asia Economy Reporter Yu Je-hoon] Shinhan Financial Group held a regular board meeting on the 3rd, confirming the schedule and agenda for this year's regular shareholders' meeting and recommending one new outside director candidate.

According to Shinhan Financial Group, the board decided to hold the regular shareholders' meeting on the 24th at 10 a.m. in the main auditorium on the 20th floor of Shinhan Bank's headquarters located on Sejong-daero, Jung-gu, Seoul. The agenda items to be presented at the shareholders' meeting include ▲approval of the 21st fiscal year financial statements and consolidated financial statements ▲appointment of directors ▲appointment of audit committee members ▲approval of the director remuneration limit, among others.

Additionally, the Shinhan Financial Group board recommended Professor Kim Jo-seol of the Department of Economics at Osaka University of Commerce as a new outside director candidate. The Outside Director and Audit Committee Candidate Recommendation Committee of Shinhan Financial Group stated, "Candidate Kim Jo-seol is a leading female economics professor well-versed in East Asian economics, possessing excellent expertise in human rights and social welfare based on economics," and added, "She is expected to contribute to the group’s environmental, social, and governance (ESG) and financial consumer protection strategies and faithfully fulfill her duties as an outside director who fairly represents the diverse opinions of shareholders."

Furthermore, according to the Act on the Corporate Governance of Financial Companies, outside director Choi Kyung-rok, who has served a total of nine years at Shinhan Financial Group and its subsidiaries, will retire after this month's regular shareholders' meeting. The Shinhan Financial Group board recommended the reappointment of seven outside directors whose terms expire this month: Park An-soon (Chairman of Daesung Sangsa Co., Ltd.), Byun Yang-ho (Advisor at VIG Partners), Sung Jae-ho (Professor at Sungkyunkwan University School of Law), Yoon Jae-won (Professor at Hongik University Business School), Lee Yoon-jae (former Presidential Secretary for Economic Affairs), Jin Hyun-duk (CEO of Fedora), and Heo Yong-hak (CEO of First Bridge Strategy).

By newly recommending female candidate Kim Jo-seol, the Shinhan Financial Group board will include two female outside directors if the appointments of Kim and reappointed director Yoon Jae-won are confirmed at the shareholders' meeting. Based on this, the group plans to strengthen ESG management through broad decision-making grounded in gender diversity and expertise. Additionally, outside director Bae Hoon was recommended as a new audit committee candidate, and outside directors Sung Jae-ho and Yoon Jae-won, who have diligently fulfilled their audit committee duties during their terms, were re-nominated 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 held this month.

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