Shinhan Financial Group said on Monday it has launched a "Foresight Team" dedicated to an industry value chain-based sales system to strengthen its ability to execute productive finance for ultra-innovative industries.

The reorganisation is aimed at shifting away from sales centred on individual companies or regions and moving to a "productive finance support system" that covers broader industry ecosystems.

Shinhan Financial has built a three-step execution framework that runs from the Foresight Map to growth potential credit evaluation and then to the Foresight Team.

It first designed its sales strategy by identifying groups of promising companies and cooperation networks through a Foresight Map that analyses value chains centred on 15 flagship projects in the ultra-innovative economy.

It then expanded the scope of execution by moving away from after-the-fact reviews based on financial statements and instead discovering promising companies and partners from the early stages of an industry, while providing financial support alongside investment linkages.

The Foresight Team is made up of strategic sales relationship managers, credit officers and industry analysis experts. It reclassifies the 15 ultra-innovative industries into 7 areas and oversees the full process from sourcing companies to marketing.

Through this, Shinhan Financial built a productive finance system that starts with identifying companies and networks based on the Foresight Map, moves to evaluating technology and business feasibility through a "corporate growth potential credit evaluation system", and then to execution led by the Foresight Team.

Shinhan Financial held a launch ceremony for the Foresight Team on March 25 and began operations. Its affiliates are also working to strengthen related capabilities. Shinhan Bank plans to pursue a training programme to bolster industry expertise in cooperation with the Korea Institute for Industrial Economics and Trade. Shinhan Investment Corp is publishing a "productive finance bluebook" and pushing to expand venture capital investment.

Jin Ok-dong (진옥동), chairman of Shinhan Financial Group, said, "The true role of finance lies in the 'foresight' and 'execution capability' to see the future of industry first and open the way." He added, "Through a shift to productive finance, we will strengthen the role of finance in linking industry and corporate growth."