Shinhan Financial Group Chairman Jin Ok-dong said on March 26 that he will make 2025 a year of “value-up” and further accelerate the financial group’s qualitative growth.
“We will strive with urgency to achieve our goals, such as achieving a return on equity (ROE) of 10 percent and a return to shareholders of 50 percent,” Chairman Jin said at Shinhan Financial Group’s 24th Annual General Meeting of Shareholders, held at Shinhan Bank’s headquarters in Seoul.
“In 2024, Shinhan Financial Group generated solid profits on the back of stable asset growth, while its overseas earnings grew by 38.1 percent year on year, reaching the highest ever,” Jin said.
“We proactively disclosed our value-up plan and steadily made our efforts to implement it, resulting in a return to shareholders of 40.2 percent, a year-on-year increase of approximately 4 percent.”
However, “Shinhan’s non-banking performance, which has always been one of its big strengths, fell short of expectations and some subsidiaries struggled to manage asset quality due to a slump in the real estate market,” Jin added.
“There were some painful moments that reaffirmed the importance of internal control. We will learn from the painful moments and strengthen Shinhan’s fundamentals.”
Chairman Jin pledged to further develop the three “first-class agendas” he has emphasized since taking over as CEO. The three agenda items are “Zero Scandals,” “Enhancing Customer Convenience” and “Creating Sustainable Profits.”
“We will firmly establish internal control as Shinhan’s differentiated capability,” he said, “The key to internal control is the strong ethical consciousness of our employees and we will internalize it through continuous training and effective efforts.”
“Shinhan Financial Group will reflect customers’ voices in its entire management process, and advance its customer experience management,” Jin added.
“We will maximize customer satisfaction and trust by boldly innovating with speed and simplicity.”
Chairman Jin stressed digital transformation and artificial intelligence (AI) innovation. “Shinhan Financial Group will accelerate digital transformation and AI innovation by quickly grasping the latest technologies and trends,” Chairman Jin said.
“We will boost our internal capabilities to drive the flow of change and discover future growth engines based on entrepreneurship. We will increase Shinhan’s value based on outstanding qualitative growth and innovation to help Shinhan grow as a world-class financial player.”
Shinhan Financial Group comes in first in six categories of the 2025 K-BPI survey.
First in Six Categories in the K-BPI 2025
Shinhan Financial Group, Shinhan Bank and Shinhan Card finished first in six categories at the Brand Power of Korean Industries (K-BPI) 2025 survey, carried out by the Korea Management Association Consulting (KMAC), the group announced on March 25.
The K-BPI reveals the competitiveness standings of brands in major Korean industries that are closely related to consumer life. The standings are set by consumer surveys conducted by KMAC every March.
In September 2024, Shinhan Financial Group launched the Bring-Up & Value-Up Project to support credit improvement and financing cost cuts for average-credit customers of savings banks through collaboration among its affiliates.
In recognition of its efforts to fulfill its role and responsibilities as a corporate citizen, Shinhan Financial Group was named the No. 1 brand in the financial group category for the 14th consecutive year.
“This honor is meaningful in that it recognizes our efforts to provide various support for the marginalized and customer-centered financial services,” a Shinhan Financial Group official said.
“Shinhan Financial Group will strive to further enhance its brand value of Shinhan with the goal of creating a financial ecosystem of empathy and win-win growth and customer-comes-first management.”
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