Shinhan Financial Group has revised its principles for appointing independent directors to actively recruit individuals with substantial experience in the financial sector. The group is also strengthening its internal control system by establishing an AI-based platform.
On August 27, Shinhan Financial hosted a 'Board of Directors Roundtable' inviting around 50 domestic and international institutional investors to share its governance improvement direction. Approximately 50 institutional investors participated both online and offline, engaging with six board members, including Kwak Soo-geun, the chair of the board, and Jin Ok-dong, the group’s CEO.
During the event, investors focused their inquiries on long-term strategies for enhancing corporate value, shareholder return plans, and the evaluation and compensation systems for the board and management.
Shinhan Financial explained that it has newly revised its principles for appointing independent directors this year. The criteria have been adjusted to expand the recruitment of individuals with practical experience in the financial industry, aiming to enhance the board's expertise.
The company also shared its plans for strengthening internal controls. In June, Shinhan Financial established a group-wide AI-based internal control platform to support compliance with management obligations. The group intends to enhance the effectiveness of its control system by requiring improvements in areas identified as lacking through its internal control committee.
Jin Ok-dong emphasized, "Based on active communication with various stakeholders, we announced our corporate value enhancement plan in April. We will do our utmost to turn the diverse opinions and advice from investors into a foundation for sustainable growth."
* This article has been translated by AI.
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