Shinhan Financial Group Recommends Choi Young-kwon and Song Seong-ju as New Outside Directors... Expansion of Female Representation

Shinhan Financial Group held the 'Outside Director and Audit Committee Candidate Recommendation Committee' on the 4th and announced the recommendation of Choi Young-kwon, former CEO of Woori Asset Management, and Song Sung-joo, professor of statistics at Korea University, as new outside director candidates.

Candidate Choi Young-kwon is a stock management expert who served as head of the fund management division at the Government Employees Pension Service, and CEO of Hi Asset Management and Woori Asset Management. Shinhan Financial Group stated the reason for the recommendation as “a capital market expert well-versed in alternative investments and socially responsible investing,” adding, “We expect the candidate to contribute to strengthening the Group’s capital market capabilities based on his deep understanding and experience in the capital market and Environmental, Social, and Governance (ESG) issues.”

Candidate Song Sung-joo earned a Ph.D. in statistics from the University of Chicago and is an expert who has researched financial statistics for financial engineering and risk management. She has participated as an advisory member for various organizations such as the Korean Risk Management Society, Risk Management Research Association, Korea Exchange, and the Korea Post Deposit Insurance. Shinhan Financial Group said, “Based on her experience, candidate Song is expected to further enhance Shinhan Financial Group’s risk management capabilities in a financial market with increasing market uncertainties.”

With the new recommendation of female candidate Song Sung-joo, if her appointment is confirmed at the upcoming shareholders’ meeting, Shinhan Financial Group’s board of directors will include a total of three female outside directors, adding to the existing two. Based on this, Shinhan Financial Group plans to strengthen ESG management through broad decision-making grounded in gender diversity and expertise.

Meanwhile, the Shinhan Financial Group board recommended the reappointment of seven outside directors whose terms expire this month: Kwak Soo-geun (Emeritus Professor, Seoul National University Business School), Kim Jo-seol (Professor, Osaka University of Commerce Department of Economics), Bae Hoon (Attorney, Orbis Law Firm), Yoon Jae-won (Professor, Hongik University Business School), Lee Yong-guk (Adjunct Professor, Seoul National University Law School), Jin Hyun-deok (CEO, Fedora Co., Ltd.), and Choi Jae-bung (Professor, Sungkyunkwan University Department of Mechanical Engineering). Additionally, Shinhan Financial Group re-nominated Kwak Soo-geun, Bae Hoon, and Yoon Jae-won, who have diligently fulfilled their duties as audit committee members during their tenure, as audit committee candidates. The outside director and audit committee candidates recommended on this day are scheduled to be approved and finally appointed at the regular shareholders’ meeting held this month.

In accordance with the 'Act on the Corporate Governance of Financial Companies,' director Sung Jae-ho, who has served a total of nine years at Shinhan Financial Group and its subsidiaries, and director Lee Yoon-jae, who expressed his intention to resign, will retire after the regular shareholders’ meeting held this month.

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