"Directly Managing Growth Engines"... Jin Ok-dong, Shinhan Financial Group Chairman, Heads to Central Asia

Jin Ok-dong, Chairman of Shinhan Financial Group, visited key Central Asian countries such as Kazakhstan and Uzbekistan to discuss cooperation plans with local financial authorities. He personally visited the region to expand connections with Central Asia, which is growing as a strategic hub for the group's global business.

Jin Ok-dong, Chairman of Shinhan Financial Group, is greeting Nurlan Abdrakhmanov, Senior Deputy Director in charge of banks at the Kazakhstan Financial Supervision Authority. Photo by Shinhan Financial Group.

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Shinhan Financial Group announced on the 13th that Chairman Jin visited Central Asia for three days starting from the 9th.

During this business trip, Chairman Jin held meetings with key officials from local financial authorities, including the Kazakhstan Financial Supervisory Service and the Central Bank of Uzbekistan, listened to plans for the development of the Central Asian financial industry, and discussed future growth cooperation measures.

He also visited the headquarters of Aster Auto, a joint venture with Shinhan Finance, Shinhan Card's local subsidiary in Kazakhstan, to review the status of the automobile sales business. Aster Auto is the leading dealer in the local used car market. Additionally, he attended the opening ceremony of the "Korean Pavilion," an exhibition hall related to Korean culture at Al-Farabi Kazakh National University, as well as a scholarship award ceremony.

Since his tenure as CEO of Shinhan Bank, Chairman Jin has emphasized establishing a stable business foundation in various overseas regions in preparation for increasing global volatility. This trip was also part of efforts to check the status of the group's business in Central Asia, which is growing as a core region for the group's global business, and to support the expansion of exchanges.

The importance of the Central Asian region continues to grow. At the end of last year, Shinhan Financial Group recorded global profits and losses of 758.9 billion KRW, the largest scale among domestic financial groups. Among this, Shinhan Kazakhstan Bank's profits and losses amounted to 103.1 billion KRW, with an average annual growth rate of 231% over the past two years. Shinhan Financial Group operates three channels in the Central Asian region, including Shinhan Kazakhstan Bank, Shinhan Finance, and the Shinhan Bank Uzbekistan Representative Office.

Chairman Jin said, "Along with a thorough review of Central Asia, which continues to show remarkable growth, we will create a foundation for the group's sustainable growth through various expanded exchanges."

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