Shinhan Financial is Korea’s largest banking group. Its 11.5% market share of loans slightly trails KB’s 13.3%, but Shinhan has more significant nonbank units than other banking groups. These include Shinhan Card, the country’s largest credit card company, brokerage firm Shinhan Investment, and a top-five presence in life insurance now that Orange Life (formerly ING) has been added to Shinhan Life. It also owns leasing firm Shinhan Capital, asset-management firm Shinhan BNPP, and regional bank Jeju Bank, among others. Unlike KB, whose predecessor banks were originally founded by the government, Shinhan has always been a private-sector bank, having grown to the top spot organically and through M&A after having been only a second-tier player before the Asian financial crisis.
Seoul, 04513, Korea, Republic of