Shinhan Financial supports sports on long-term basis

By Kim Jae-won

Shinhan Financial Group is a pioneer in the nation’s sports sponsorship. The fourth-largest financial company in Korea has led by hosting a men’s golf tour event and running a women’s basketball club since the 1980s.

In particular, it has focused on young golf players. It supports them financially, and boosts its brand globally through their success.

Lee Jae-hyeok, 18, is the latest golfer the financial heavyweight is backing. Shinhan agreed last week to support him for three years and Lee will wear caps and other clothing bearing the firm’s logo.

“Lee’s dynamic play matches well with Shinhan, which seeks to fly high as a world-class financial group,” said Han Dong-woo, chairman of the group at the signing ceremony held at the company’s main office in downtown Seoul.

Han said he will not spare any efforts to make Lee shine.

Shinhan, however, did not disclose the contract details for the confidentiality reasons.

Lee has been commended for his dynamic play. Experts say he has enormous potential to grow as a world-class player. They say his swing is powerful as well as smooth.

The Yonsei University freshman is a promising golfer and turned professional in October, graduating from the Korea Professional Golf Association’s (KPGA) qualifying school. He earned a gold medal in the men’s team competition at the Guangzhou Asian Game in 2010 as the youngest player on the side.

Korean golfers Kim Kyung-tae and Kang Sung-hoon are also supported by Shinhan. On the back of its sponsorship, Kim was the money leader of the Korean Tour in 2011 and the Japanese Tour in 2010. Kang passed the PGA’s qualifying school in 2009. He showed his potential in finishing in a tie for 39th at last year’s U.S. Open.

Shinhan is also awarding scholarships to golf students and paying their overseas training expenses. Lee was one of those who received that support.

Shinhan has contributed to development of the nation’s male golfers. It has hosted the Shinhan Donghae Open since 1981, a major KPGA Tour event, which boasts one of the biggest money prizes here. PGA players Yang Yong-eun and Choi Kyung-ju are some of the players who regularly attend the tournament.

Other financial companies have been supporting women’s golf, an area where Korea has thrived, but Shinhan keeps its focus on the men’s games to support players who, in relation to their female counterparts, suffer from a lack of sponsorship.