Shinhan Financial Group
Encyclopedia
Shinhan Financial Group Co., Ltd. is a South Korea
n financial holding company. As of 2007, Shinhan is the largest financial company in Korea; Shinhan Bank
, its main subsidiary, is the first among banks.
Shinhan Financial's largest shareholder is BNP Paribas
with 8.5% stake.
On September 1, 2001, Shinhan Financial Group was established to change Shinhan into holding company
system, which had been newly introduced into the country. Shinhan Financial was then listed on the Korea Stock Exchange.
Later its ADR
s were listed on the New York Stock Exchange
in 2003.
In 2002, Shinhan bought Jeju Bank.
That year Shinhan Securities merged with Good Morning Securities.
Shinhan acquired CHB Bank
in 2003, then combined it with Shinhan Bank in 2006.
Shinhan bought LG Card in 2006, and next year merged it with smaller Shinhan Card.
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
n financial holding company. As of 2007, Shinhan is the largest financial company in Korea; Shinhan Bank
Shinhan Bank
Shinhan Bank , is a bank, headquartered in Seoul, Korea. Historically it was the first bank in Korea, established under the name Hanseong Bank in 1897. The bank was reestablished in 1982. It is part of the Shinhan Financial Group, along with Jeju Bank...
, its main subsidiary, is the first among banks.
Shinhan Financial's largest shareholder is BNP Paribas
BNP Paribas
BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
with 8.5% stake.
History
Shinhan Bank and its affiliates were a major financial group in S. Korea.On September 1, 2001, Shinhan Financial Group was established to change Shinhan into holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
system, which had been newly introduced into the country. Shinhan Financial was then listed on the Korea Stock Exchange.
Later its ADR
American Depositary Receipt
An American depositary receipt is a negotiable security that represents the underlying securities of a non-U.S. company that trades in the US financial markets...
s were listed on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
in 2003.
In 2002, Shinhan bought Jeju Bank.
That year Shinhan Securities merged with Good Morning Securities.
Shinhan acquired CHB Bank
CHB Bank
CHB Bank was a bank company headquartered in Seoul, South Korea. It was one of the oldest banks in Korea, having been established on February 1, 1897. CHB merged with Shinhan Bank in April, 2006.-See also:*List of Banks in South Korea...
in 2003, then combined it with Shinhan Bank in 2006.
Shinhan bought LG Card in 2006, and next year merged it with smaller Shinhan Card.
Subsidiaries
- Shinhan BankShinhan BankShinhan Bank , is a bank, headquartered in Seoul, Korea. Historically it was the first bank in Korea, established under the name Hanseong Bank in 1897. The bank was reestablished in 1982. It is part of the Shinhan Financial Group, along with Jeju Bank...
, a commercial bank. - Shinhan CardShinhan CardShinhan Card Co. Ltd. is Korea's biggest, global top-five credit card company. Headquartered in Seoul, Korea, the company has a partnership with Shinhan Capital, and is an affiliate of Shinhan Financial Group. Shinhan Card was established in 1990 as a technical and business company licenced by...
, a credit card company. - Shinhan Investment Corporation, stockbroker
- Shinhan Life Insurance
- Shinhan CapitalShinhan CapitalShinhan Capital Co, Ltd. is a Korean financial company, established in 2003 with headquarters in Seoul, Korea. It was the financial services unit of Shinhan Financial Group. Its divisions are responsible for over 50% of Shinhan Bank revenue....
- Jeju Bank , a local bank in Jeju Island.
- Shinhan Credit Information
- Shinhan Private Equity
- Shinhan Macquarie Financial Advisory
- Shinhan BNP Paribas Investment Trust Management, a 50:50 joint venture with BNP Paribas.
- SH&C Life Insurance, another partnership with BNP.
- Shinhan Data System