Shinhan Financial Group nominates Jin Ok-dong for another term as chairman

Shinhan Financial Group Chairman Jin Ok-dong speaks to reporters before heading into his final interview at the group's headquarters in Seoul, Thursday. Yonhap

Shinhan Financial Group Chairman Jin Ok-dong has effectively secured a second term after the recommendation committee selected him as the sole final candidate for the chairmanship, the company said Thursday.

Jin earned high marks not only for delivering exceptional financial results over the past three years, but also for playing an active role in strengthening the group's long-term competitiveness.

He is expected to be formally appointed following approval at the regular shareholders' meeting and board session in March, once his current term concludes. His new term will last three years.

"Leveraging the experience and expertise he gained as CEO of Shinhan Bank and chairman of Shinhan Financial Group, Jin was viewed as possessing the strategic insight, organizational leadership and integrity required of a chairman," the committee said.

"The members of the committee gave high marks for advancing the group's digital and global businesses to strengthen future competitiveness, raising corporate value through the Shinhan Value-up Project, and reinforcing disciplined management by establishing a distinctive internal control culture," it added.

Since taking office in 2023, Jin has led the group to record-breaking results for two consecutive years. Shinhan's cumulative net profit through the third quarter of 2025 reached 4.46 trillion won ($3 billion), marking another all-time high.

The group has also outlined bold shareholder-return goals through 2027, including a 10 percent return on equity, a 50 percent payout ratio and a reduction of 50 million outstanding shares.

Jin began his career at the Industrial Bank of Korea in 1980 and moved to Shinhan Bank in 1986. He spent 18 of his banking years in Japan — as head of Shinhan Bank's Osaka branch and later as chief of Shinhan Bank Japan — earning deep trust from Korean Japanese shareholders, who are Shinhan Financial’s largest investor group.

Before heading to Thursday's final interview at the group's headquarters in Seoul, Jin told reporters he planned to speak about "how Shinhan Financial Group can truly change and how it can return to the spirit it had at its founding."

"I reflected not only on the past three years, but also on what Shinhan Financial Group needs in order to sustain itself for the next 50 and even 100 years," he added.