Increasing Community Investment
Shinhan Financial Group promotes compassionate finance that increases the values of both Shinhan and society together and creates synergies.
Shinhan Financial Group recognizes ‘social contribution’ as a ‘mutually beneficial activity’ that raises values for the customers, Shinhan, and society and designated the 3 major fields of social contribution that includes ‘welfare, culture, and the environment‘, while performing volunteer work and donations in the form of activities relevant to our core business of ‘financing’.
Expanding Responsible Investments and Green Financial Products
The introduction of the Stewardship Code became a hot issue in 2017, as the National Pension Service prepared to adopt the Code, emphasizing fiduciary duties and social responsibility. In addition, the importance of corporate non-financial factors is growing as various stakeholders including customers, shareholders, and investors begin to consider not only profits but also its positive impact on society.
Shinhan Financial Group has responded to such market changes by creating new business opportunities while resolving social issues through the development of eco-friendly products and services, vitalization of green finance in partnership with public institutions, and operation of SRI funds. Furthermore, it has been contributing to the spread of environmental management throughout society.
Compassionate Finance, Your Companion for the Future
‘Society of Hope Project’
Shinhan Financial Group launched a new social contribution project to practice its mission ‘Compassionate Finance, Your Companion for the Future’ with the spirit of ‘benefiting the world through the power of finance’. The ‘Society of Hope Project’ represents the determination of Executives and the Board of Directors that all subsidiaries of Shinhan will lead the efforts for the sustainable growth of the Korean economy and realization of social values.
Shinhan Financial Group plans to engage in ‘mutually beneficial activities’ that raise values for the customers, Shinhan, and society and support income-led growth and innovation through the ‘Society of Hope Project’. It is a social contribution program of injecting KRW 270 billion by 2020 in total to support
the income earning activities of socially marginalized and low-income groups and the growth of SMEs.
We are helping customers with low credit ratings, employment of women with low-income, youth seeking work overseas, establishment of after-school childcare centers for their economic independence. We also aim to contribute to enhancing CASE STUDY individual and institutional capabilities by supporting urban regeneration projects and youth training for the fourth industrial revolution from the perspective of innovative growth. All subsidiaries of Shinhan Financial Group will continue to implement the ‘Society of Hope Project’ by 2020 to be engaged in more strategic and developed social contributions.
individual and institutional capabilities by supporting urban regeneration projects and youth training for the fourth industrial revolution from the perspective of innovative growth. All subsidiaries of Shinhan Financial Group will continue to implement the ‘Society of Hope Project’ by 2020 to be engaged in more strategic and developed social contributions.
Financial Recovery Program for People with Low Credit Ratings
Shinhan Financial Group has arranged a business agreement with the Ministry of Employment and Labor (MOEL) to provide a financial recovery program for people with low credit ratings as its first ‘Society of Hope Project’. Among 5,000 applicants who are participating in the Successful Employment Package Program of MOEL, those who are subject to be engaged in the second stage of career training are provided with partial living expenses for 6 months to the maximum by the Credit Management Consulting Team of Shinhan Credit Information, besides training allowances. Shinhan Credit Information also provides them with credit and financial consulting services. The Credit Management Consulting Team has been expanded and operated to provide more active and engaged consulting services since early March.
Providing Support for After-school Child Care Centers for Women Experiencing Career Disruption
Shinhan Financial Group has signed an MoU with the Ministry of Gender Equality and Family and invested KRW 5 billion to support about 5,000 socially marginalized women experiencing career disruption to continue their work. Also, we will implement a project to ‘establish after-school child care centers by injecting KRW 9.5 billion to build basic facilities that are favorable to parenting within the community.