Shinhan Bank President Hanyonggu: "Supporting Smooth Transition for Vulnerable Borrowers Including SMEs"

Inauguration Ceremony on the 30th... Press Conference to be Held

[Asia Economy Reporter Yu Je-hoon] Han Yong-gu, the newly appointed president of Shinhan Bank, said on the 30th, "Next year, our role is to support a soft landing through proactive measures for vulnerable borrowers such as self-employed individuals and small business owners, and we will focus on this."

Han held a press conference at Shinhan Bank's headquarters in Jung-gu, Seoul, in the morning and said regarding the bank's social role, "Next year, not only households but also self-employed individuals and small business owners will face difficulties, and asset soundness issues are expected to become prominent," expressing this view.

Regarding Shinhan Bank's support measures for vulnerable borrowers, he said, "We are easing interest rates on real estate-secured loans, providing interest deferral measures on portions exceeding a certain interest rate, and implementing debt adjustment programs," adding, "We will proceed more actively with these measures." On support plans for small and medium-sized enterprises (SMEs) facing financial difficulties, Han said, "The Bankers Association is also considering this, but we are independently contemplating it as well," and added, "If they can get through this period, they can recover, but we are thinking about how to support SMEs struggling due to temporary cash shortages."

Han also explained regarding self-employed individuals and small business owners, "We are supporting government policies by increasing contributions to guarantee institutions to enable practical loans," and added, "In addition, Shinhan Bank is deeply reviewing ways to fulfill its social responsibility as a leading bank."

Regarding next year's new hires and voluntary retirement, he said, "Voluntary retirement is inevitable to expand hiring opportunities for young people," and added, "Voluntary retirement will be carried out considering the overall scale and in consultation with internal members." On the recent reduction of offline channels such as branch consolidations in the banking sector, he said, "About 150 branches, including business offices, have been consolidated over the past two years, and we believe this is now almost complete," and added, "There are concerns about the digital divide, so we plan to actively open specialized and innovative branches in vulnerable areas such as rural or suburban regions with many elderly people."

Meanwhile, Han officially took office as the new president at an inauguration ceremony held that morning. His term will be two years starting from January 1 next year. In his inaugural speech, he said, "In 2023, our economy will face a crisis beyond a slowdown," and added, "Let us manage soundness through precise data analysis, protect customer value with timely support measures, and build resilient growth to maintain steady recovery even in crisis."

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