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SHINHAN FANANCIAL GROUP





CEO Message

Cho Yong-byoung

CEO, Shinhan Financial Group

“ THANKS TO ALL THE STAKEHOLDERS
OF SHINHAN
FINANCIAL GROUP.”

In 2019, amid the accumulation of uncertainties in the global financial market, Shinhan Financial Group continued to promote its 2020 SMART Project with the aim of making a leap forward to becoming Asia’s Leading Financial Group. As a result, we recorded our highest annual financial performance ever by achieving balanced growth across our entire business portfolio in 2019, further reinforcing our status as the leading financial group in Korea. This success is entirely attributable to all our stakeholders’ steadfast faith in and affection for Shinhan Financial Group.

'Building a Better World through Finance'

We believe that the exceptional performance of Shinhan Financial Group, which has opened a new path for Korean finance, is the result of our efforts to fulfill our corporate social responsibilities with the goal of creating a virtuous cycle of shared growth that benefits the world under our vision of 'Your Companion for the Future’ through compassionate finance.

We declared the launch of 'compassionate finance' in 2011, established nine key CSR strategies in 2014, and launched the ‘2020 CSR Strategies’ in 2017. We have created a robust and sustainable management system by consistently promoting socially responsible business management under the three principles of ‘Responsible Growth,’ ‘Social Partnerships,’ and ‘Invest in Our Future.; In 2020, we will strive to successfully conclude our 2020 CSR Strategies, expand the values of sustainability and innovation finance across our entire business portfolio, and achieve systematic progress in our Environmental/Social/Governance (ESG) efforts. At the group level, we will promote the development of our ESG system in three directions, namely, ‘Eco-friendly Management,’ ‘Win-win Management’ and ‘Trusted Management.’ We will also pursue improvements in the relevant programs in our own unique way throughout the year.

“ We will promote our group-level ESG system in the three directions of ‘Eco-friendliness,’
‘Win-Win,’ and ‘Trust’ and make the necessary modifications
to specific ESG programs.”

Eco-friendliness Toward a Low-carbon Economy!

In terms of ‘Eco-friendly Management,’ Shinhan Financial Group led the low-carbon financial market based on its medium and long-term eco- friendly vision, “ECO Transformation 20•20,” which was announced in 2018. In September 2019, we joined the United Nations Principles for Responsible Banking (UN PRB) as a founding signatory. In December, we declared the “Group Principles for the Response to Climate Change” for the first time among domestic financial groups in a bid to systematically establish and implement our duties and responsibilities in fighting climate change as a responsible financial group. To achieve the transition to a low-carbon economy as early as possible, in 2020, we will conduct a climate change impact analysis of our entire group business portfolio and take proper actions according to the results, so that we can lead the Korean financial industry in the environmental sector, as well.

Win-Win Innovation Growth Ecosystem!

To promote Win-Win Management, we formed the Innovative Finance Promotion Committee for the first time in the domestic financial industry and implemented the Innovation Growth Project in February 2019 for the purpose of boosting the innovativeness of the industry and the country as a whole through the fulfillment of our role as an cutting-edge financial institution. In 2019, we contributed to strengthening the foundation for the development of new growth engines in Korea by offering active support to promising start-ups and tech companies. In 2020, we will launch the Triple-K Project to provide them with even more systematic support. More specifically, we will join hands with local governments to promote the Korea Cross- Country Plan, an initiative designed to promote the development of regionally specialized, innovative growth ecosystems. We will also implement the Korea to Global Plan to help innovative local businesses make inroads into overseas markets, expand their presence through our financial and networking assistance and by joining the government-led K-Unicorn Project, and provide cutting-edge businesses with support customized for their respective stages of development. Furthermore, through close cooperation with our stakeholders, we will make significant contributions to building a nationwide growth ecosystem for innovative businesses in 2020.

Trust Society of Hope!

Through our ‘Trusted Management,’ we will continue to strengthen the win-win platform designed for a trust-based social community through the Hope Society Project that we have promoted since 2017. In 2019, we launched the Social Value Measurement & Evaluation Model project to continue to quantify our changing social values, the first financial group in Korea to do so. We will strive to create even greater social value through our strategic Creating Shared Value (CSV) activities focused on effectiveness. In 2019, we developed an action plan for Shinhan Sheroes, a groupwide women's leadership development program, we launched in 2018, and took subsequent action for this initiative. We will continue to boost our organizational diversity by creating a virtuous cycle in the personal growth of female leaders within the organization.

Top-tier Shinhan the Innovator!

As a rule, ordinary businesses focus on going faster than others, whereas top-tier businesses take the course that no one else dares to venture down. In our efforts to achieve our sustainable management goals, we at Top-tier Shinhan aspire to Build a Better World through Finance as our corporate mission and contribute to building a world where everyone wants to live. To that end, we will innovate and develop ourselves first and fulfill our role of empowering positive changes in our customers and society through our best practices in sustainable finance. We look forward to your continued interest in and support for Shinhan Financial Group.

Thank you

CEO, Shinhan Financial Group
Cho Yong-byoung

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