Shinhan Investment said on Tuesday it has expanded and reorganised its research division to support productive finance.

The reorganisation splits the corporate analysis department, previously a single unit, into Corporate Analysis Department 1 and Corporate Analysis Department 2. It also sets up an Innovation Growth Team under Corporate Analysis Department 1. The firm plans to focus the team on expanding coverage of productive finance and innovation growth companies, and strengthening analysis of overseas firms.

Shinhan Investment also plans to expand the number of stocks covered by its research division to 400, including KOSDAQ stocks (NR, no target price).

The Innovation Growth Team under the expanded Corporate Analysis Department 1 will analyse KOSDAQ and promising unlisted investment companies. To strengthen its analytical capabilities, it is assigning second- and third-tier analysts and recruiting externally.

Lee Byung-hwa (이병화), head of Corporate Analysis Department 1 in Shinhan Investment's research division, said the team will analyse KOSDAQ venture firms, companies eligible for investment by business development companies (BDCs) with market capitalisation of 200 billion won or less, and promising unlisted investment firms. He said it will also expand coverage of existing KOSDAQ companies and publish reports that meet both quantitative and qualitative standards.