Shinhan Bank has been striving to help society by conducting full-scale social responsibility efforts through Compassionate Finance, which sets out to support communities with the power of finance. The bank launched a social service group in July 2004 for the first time, the first such group in Korea by a commercial bank, to follow through with its commitment to society by returning profits in diverse and systematic ways. 

Its social service activities have been channeled in three strategic ways, welfare, culture and environment, so that the results and values of its social services will be shared with regional societies. 

Shinhan Bank, a major affiliate of the financial group, has been running the Shinhan Youth Financial Education Center, very much like a full branch of the bank, to train youth through tailor-made training programs on financial matters since September, 2013. Also involved is the Shinhan Financial Education Institute for kindergarten children and primary school students. Children, students and parents have the opportunity to learn how to take care of the pocket money. 

The institute has been getting good responses from children and parents in other cities, including Daejeon and Busan. 

In order to realistically implement the Compassionate Finance program, Shinhan Financial Group improved the system and infrastructure and expanded it as a corporate culture to strengthen communication with stakeholders, thereby realizing Compassionate Finance within the financial industry to receive the consensus of customers.

“In order to ensure that those in the working class who hope to start their own business can easily receive the education they need, we carry out a company-wide program together with the professional institutions of small business startups.” the company says. “In the year 2012 alone, a total of 3,282 small business owners completed the startup education program so they can go on to see the light of hope.” 

Shinhan bank provides support, scholarship funds and cultural and artistic activities. It operates the Scholarship Foundation and the Finance Museum, which are pioneering projects in Korea’s domestic banking industry. 

“The Shinhan Bank’s Foundation of Hope” was established to contribute to the national and international society and promote and develop overall art and science, the company says. 

As a national scholarship scheme, it provides 110 million won to 130 young heads of households and disabled students in special schools. For the overseas scholarship scheme, it puts up 36 million won per year to the children of Korean nationals in Kazakhstan, Uzbekistan and China.

The Korea Finance History Museum, located in Jung Gu, Taepyeongro, Seoul, has about 3,000 finance materials. Shinhan Gallery, operated along with the museum, is a cultural space for special events and is open for all types of exhibitions. It supports young high-potential artists and arts activities.

Recently, by strengthening the partnership with NPO such as The Beautiful Foundation and the Bank of Social Solidarity, it has promoted public sharing programs such as education sharing, support of poor and low-income families and support for the credit recovery of credit delinquents (providing that they participate in community services). Shinhan Bank initiated the implementation of Korea’s first credit recovery program.

“In addition, we fully support a variety of social welfare programs including ‘Children Economy Class, invitation of children's living in remote places, sending teachers overseas, and ‘Life Sports Development and Support Program’” according to the company. “Further, by developing and selling public interest products such as social responsibility management loans, Beautiful Fund, Martyr Sponsor Fixed Deposits, Promise of Love Savings and Deposits Account, they has helped the spread of corporate social responsibility.”