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SHINHAN FANANCIAL GROUP





ESG Competencies

In order to protect the interests of its shareholders, financial service consumers and other stakeholders and promote long-term development, Shinhan Financial Group is equipped with a corporate governance structure that reflects both its growth history and organizational culture while securing independence, expertise, and transparency.

Independence
Operations of the Board of Directors, as the group's permanent supreme decision-making organ, are centered around its independents, one of whom also presides over the board meetings in accordance with a provision enacted in March 2010, to enhance the independence of the board and help it effectively keep tabs on management. The term of independent directors is less than 2 years and their reappointments are allowed, but the total term is limited not to exceed 6 years as stated in the Act on Corporate Governance of Financial Companies.
#Awarded an S rating for corporate governance in KCGS' ESG assessment (a first among listed companies)
#83% share of independent directors in the BOD
#All members of Audit Committee and Remuneration Committee are from independent directors
Diversity and Expertise
Members of the Board of Directors are individuals that have served a certain period of the time in the five sectors of finance, management, economy, law, and accounting. Furthermore, we have specified in our internal regulations on corporate governance the ‘principle of diversity’ in the composition of the Board of Directors to ensure that the board members do not unfairly represent certain interests.
#The Board manages 8 sub-committees in total
#Appointed a female board chair for the first time among financial companies (’10)
Transparency and Protection of Shareholders Rights
We disclose to all our stakeholders any information related to our corporate governance by publishing an annual report on corporate governance and releasing it on our website. Also, we have made concerted efforts to enhance shareholder value by operating a cumulative voting scheme designed to protect our minority shareholders along with a system that allows shareholders to exercise their voting rights in writing at general shareholders meetings.
#The Board manages 8 sub-committees in total
#Appointed a female board chair for the first time among financial companies (’10)