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Finance

Shinhan Financial to write off 500 billion won in delinquent debt, expand inclusive finance to 4.5 trillion won

Shinhan Financial Group plans an inclusive finance project worth 5 trillion won, including the write-off of 500 billion won in long-term delinquent debt to support vulnerable borrowers\' recovery. It will also expand inclusive financing for low-income people and small businesses to 4.5 trillion won by bringing forward next year\'s plan. Shinhan will restrict extensions of statutes of limitation on debt and broaden products and credit assessment models to support mid-to-low credit borrowers.

Finance

Shinhan Bank expands green energy cooperation with Shinhan Asset Management, Hyosung Heavy Industries

Shinhan Bank will expand cooperation with Shinhan Asset Management and Hyosung Heavy Industries on global renewable energy projects. The bank said it signed a business agreement on May 8 at TP Tower in Seoul’s Yeouido district to strengthen competitiveness in global energy infrastructure. The partners plan to broaden collaboration in overseas energy infrastructure based on experience managing the Shinhan-Hyosung Global Greenway Fund. Shinhan Bank plans to provide project finance arranging, foreign-currency payment guarantees and derivatives.

Finance

Shinhan Bank signs productive finance pact with SK On to strengthen global business support

Shinhan Bank said on April 9 it signed a productive finance agreement with SK On at TP Tower in Seoul\'s Yeouido to support the battery maker\'s overseas expansion in electric vehicle batteries and energy storage systems. The pact includes financial support to boost global competitiveness, help 대응 foreign exchange market volatility, capital markets advisory and funding support, and financial education for workers. Shinhan will provide a guarantee for SK On\'s $500 million global bond issue.