Companies in the Group

• SHINHAN BANK100%
• SHINHAN CARD100%
• SHINHAN SECURITIES100%
• SHINHAN LIFE100%
• SHINHAN CAPITAL100%
• SHINHAN ASSET MANAGEMENT100%
• JEJU BANK75.31%
• SHINHAN SAVINGS BANK100%
• SHINHAN ASSET TRUST100%
• SHINHAN DS100%
• SHINHAN AITAS99.8%
• SHINHAN REITs MANAGEMENT100%
• SHINHAN AI100%
• SHINHAN VENTURE INVESTMENT100%
• SHINHAN EZ
  GENERAL INSURANCE85.1%

• SHINHAN BANK AMERICA100%
• SHINHAN BANK
  EUROPE GmbH100%
• SHINHAN BANK
  (CAMBODIA) PLC.97.5%
• SHINHAN BANK KAZAKHSTAN100%
• SHINHAN BANK
  CHINA LIMITED100%
• SHINHAN BANK
  CANADA100%
• SHINHAN BANK
  JAPAN100%5)
• SHINHAN BANK
  VIETNAM LTD.100%
• BANCO SHINHAN
  DE MEXICO99.99%
• PT Bank Shinhan Indonesia99%

• Shinhan Financial Plus100%
• Shinhan Life Insurance Vietnam Limited Liability Company100%
• ShinhanCubeOn100%
• KOFC SHINHAN FRONTIER CHAMP 2010~4 PEF INVESTMENT CORP.8.5%
  SHINHAN CAPITAL 6.5%2)
• Shinhan Investment America inc.100%
• Shinhan Investment
  Asia Ltd.100%
• SHINHAN PRAXIS
  K-GROWTH GLOBAL PRIVATE EQUITY FUND14.1%3)
• SHINHAN SECURITIES VIETNAM CO., LTD100%
• PT Shinhan Sekuritas Indonesia99%
• Shinhan Smilegate
  Global PEF I10%4)
• Shinhan SKS PEF9.59%
• LLP MFO Shinhan Finance100%
• PT. SHINHAN INDO FINANCE50%
• Shinhan Microfinance Co.,Ltd.100%
• Shinhan Vietnam Finance Company100%
• Shinhan Credit Information100%

• Neoplux 3rd PEF10.0%
• KTCNP Growth Champ 2011-2 PEF5.56%
• Shinhan DS
  Vietnam Co. LTD100%
• SHINHAN ASSET MANAGEMENT
  (HONG KONG)LIMITED100%
• SHINHAN PRIVATE EQUITY FUND 2ND66.3%1)
• JS Shinhan Private Equity Fund0.06%
• Shinhan Nautic Private Equity Fund I9.23%
• PT Shinhan Asset Management Indonesia75%

• 1) We and our subsidiaries currently own 96.74% in the aggregate.
• 2) We and our subsidiaries currently own 34.6% in the aggregate.
• 3) We and our subsidiaries currently own 18.9% in the aggregate.
• 4) We and our subsidiaries currently own 14.21% in the aggregate.
• 5) SBJ BANK own 100% in the aggregate.