Shinhan Financial Group Announces Financial Consumer Protection Strategy "Proactive Response"

Establishment of Group Consumer Protection Division in the Second Half of the Year

Shinhan Financial Group held a financial consumer protection strategy declaration ceremony, signaling a major transformation at the group level.

On the morning of the 18th, Shinhan Financial announced on the 20th that it held the 'Strategy Declaration Ceremony for Consumer Protection' at its headquarters in Jung-gu, Seoul, attended by Chairman Jin Ok-dong and executives and department heads responsible for financial consumer protection from 11 group companies including Shinhan Bank and Shinhan Card.

At the declaration ceremony, the strategic goal for consumer protection was set as 'Creating an excellent financial consumer protection environment through proactive response,' and measures to elevate the consumer protection capabilities of all group companies to the highest level were announced.

Under the strategic slogan "Engraving the Customer at the Center of Shinhan," Shinhan Financial established four major strategic tasks: ▲ proactive response to financial consumer risk factors ▲ strengthening prevention of telecommunication financial fraud ▲ establishing a culture of complete sales ▲ enhancing internal controls for financial consumer protection, and decided to promote these mainly through the consumer protection division.

Chairman Jin stated, "We established the consumer protection division in the second half of the year to swiftly respond through the establishment of an integrated and systematic consumer protection strategy at the group level and to build a cooperative consumer protection system among group companies," adding, "Financial consumer protection must lead to actions that directly impact customers, and to this end, we will devote all efforts to establishing Shinhan Financial’s own outstanding consumer protection system."

Meanwhile, based on the group’s ESG (Environmental, Social, and Governance) slogan, "Do the Right Thing for a Wonderful World," Shinhan Financial is currently implementing initiatives such as establishing a hotline with the National Police Agency to respond to financial fraud crimes and awarding the 'Heroes Protecting the People’s Economy' to police officers and citizens who contribute to crime prevention. In particular, Shinhan Bank supported 30 billion KRW in May for voice phishing victim support and prevention projects, and was the only bank among those evaluated in the Financial Supervisory Service’s consumer protection performance assessment conducted at the end of last year to receive a 'Good' rating.

Shinhan Investment Corp. is also promoting various consumer protection strategies by group company, such as expanding the weight of customer return rate evaluation and incorporating customer satisfaction into the evaluation criteria in this year’s private banker (PB) performance assessment.

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