Jin Okdong Begins Second Term as Chairman After Extension... "Aiming to Complete 'First-Class' Shinhan by Leading the Future" (Comprehensive)

Three-Year Term Extension Approved at Shareholders' Meeting


This Year’s Management Slogan: "Great Challenge 2030"

Active Promotion of Productive Finance and Digital Assets

Jin Okdong, Chairman of Shinhan Financial Group, has confirmed his three-year consecutive term and will officially launch his "second term" leadership. He plans to complete the vision of a "first-class Shinhan" by initiating "bold execution" to lead the future of finance, including productive finance and digital assets.

Jin Okdong, Chairman of Shinhan Financial Group, is holding the 25th Annual General Meeting of Shareholders and an Extraordinary Board Meeting at 10 a.m. on the 26th at the headquarters in Jung-gu, Seoul. Provided by Shinhan Financial Group

On the 26th, Shinhan Financial Group held its Annual General Meeting of Shareholders and approved the reappointment of Chairman Jin as an inside director.

As a result of this shareholders’ meeting, Chairman Jin will lead Shinhan Financial Group for an additional three years, until March 2029. Previously, global proxy advisory firms such as Glass Lewis and ISS had expressed support for his reappointment, while the National Pension Service had opposed it, making the outcome closely watched.

In his opening remarks at the shareholders’ meeting, Chairman Jin emphasized that this year’s management slogan is "Great Challenge 2030: Bold Execution for the Future of Finance," and stressed the importance of strengthening future competitiveness.

Chairman Jin stated, "The competitive landscape of finance is being restructured around AI, digital assets, and platforms," adding, "This year, we will accelerate execution in core areas that are directly linked to the group’s future competitiveness."

To this end, productive finance will be actively promoted as a priority. Chairman Jin said, "We will enhance our foresight to anticipate changes in industries and the future, and offer tailored financial solutions at each stage of corporate growth, thereby setting the direction and standards for productive finance ahead of others."

The group will also accelerate AI transformation (AX) and digital transformation (DX). Centered on the newly established AX·DX division last October, the plan is to lead the digital asset ecosystem encompassing issuance, custody, and distribution, and to actively apply AI to products, services, and work processes, drastically improving organizational productivity.

Additionally, he said, "We will concentrate the group’s capabilities on business areas that will be key battlegrounds, such as wealth management (WM), senior, and global sectors." He also emphasized, "We will create an unassailable competitive edge globally by diversifying growth axes based on a long-term roadmap."

Meanwhile, at the shareholders’ meeting, a proposal to transfer capital reserves to retained earnings as a preparatory step for tax-free dividends was also passed. As a result, as of the end of last year, Shinhan Financial Group will transfer KRW 986.59 billion to retained earnings, which will be used as a source for tax-free dividends after this year’s settlement. Individual shareholders will be able to receive their full dividend amount without paying the 15.4% dividend income tax.

Furthermore, the appointment of new outside directors—former SC First Bank CEO Park Jongbok and Professor Im Seungyeon of Kookmin University—was also approved. Five outside directors—Kwak Sugun, Kim Jooseok, Bae Hoon, Song Sungjoo, and Choi Youngkwon—were reappointed. In addition, a basis was established to enable the introduction of electronic general meetings of shareholders in line with the implementation of the amended Commercial Act in January next year.

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