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SHINHAN FANANCIAL GROUP





ESG Invitation Letter

Dear stakeholders,

Hello, this is Cho Yong-byoung, CEO of Shinhan Financial Group.

I would like to take this opportunity to make an “ESG proposal” to you.

Last year, many people went through a lot of difficulties due to COVID-19, which
nobody had expected. As I personally witnessed our customers as well as employees
struggle at their job, I thought hard about “resilience” in connection to an uncertain
business environment where nobody knows what will happen next.

I believe the answer lies in ESG management.

At a recent meeting with all CEOs of the Group subsidiaries, we shared opinions that
ESG management is like a vaccine that enables us to prepare for future uncertainties
in the business environment. As mentioned before, in 2021 we will demonstrate
our unique, distinctive ESG approach to produce practical results by taking on
five major tasks with a focus on three strategic criteria – green, win-win, and trusted.

We feel a heavy responsibility lately towards the Korean economy in an ESG transition.
ESG risks induced by climate change, collectively called “green swan”, have grown into
an immediate business risk to the power generation companies in Korea as well as
manufacturing sectors. For this reason, many companies are rushing to become
more eco-friendly, which is why they need a lot of help.

Shinhan will help everyone seeking an ESG-based change.
Which is why, we are trying harder to understand all ESG-related values
and to reflect ESG factors in our key businesses.

I remember a time when I began my career at Shinhan Bank.
It was a time of growing together with customers, embodying the
founding spirit of “Be Original, Productive, and Compassionate”.
The spirit I have internalized has extended to the Group mission,
“Compassionate Finance, Your Companion for the Future”.
Shinhan’s history of building a better world through finance is
aligned with ESG.

In Korea, “ESG” is in the process of finding its way through many aspects.
Shinhan, in creating its ESG Way towards a sustainable future, is paving
a path never trodden before, and seeks to become an ESG lighthouse
that guides stakeholders to right directions. Such determination and
resolve of Shinhan is reflected in this ESG Report.

I plead with all Shinhan stakeholders reading this letter.
Join us and together we will achieve sustainable growth and
development, and create a better world for our future generations.

Be with Shinhan.

When people walk in one direction one after another,
soon a new path will be made. And that path will become
a sustainable way that more people will be taking together.