Shinhan Bank, Jungjin Gong- Geumgamwon Sign Joint Operation Agreement for 'SME Financial Regulation Innovation Center'

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 31st that it has signed a business agreement with the Small and Medium Business Corporation and the Financial Supervisory Service to resolve financial difficulties and support financial regulatory innovation to strengthen the competitiveness of small and medium-sized enterprises (SMEs).

This agreement was prepared to establish a public-private cooperation system and collaborate on financial support to strengthen the competitiveness of SMEs, which form the foundation of the industry, amid increasing difficulties in corporate management due to the expanding possibility of an economic downturn.

Accordingly, Shinhan Bank will participate in the establishment and joint operation of the SME Financial Regulatory Difficulty Innovation Center within the Small and Medium Business Corporation, cooperating in tasks to resolve financial difficulties and innovate financial regulations, including consultation and diagnosis of financial difficulties of SMEs, policy proposals, and system linkage.

In particular, Shinhan Bank plans to dispatch corporate finance experts with extensive experience in corporate customer-related work to perform various financial support roles in the private sector. A Shinhan Bank official stated, "As a private sector participant in this agreement to strengthen the competitiveness of SMEs through the power of finance, we will strive for active financial support," adding, "We will continue to practice ESG management that coexists with society centered on our customers."

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