Liquidation: SHINHAN FINANCIAL GROUP CO LTD

Form Type: 20-F

Filing Date: 2025-04-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525089950

Filing Summary: The document reports the financial results for the year ended December 31, 2023, highlighting an impairment loss recognized due to accumulated unrealized losses related to investments. Shinhan Financial Group faced significant financial challenges leading to impairments at various subsidiaries, including Shinhan AI Co., Ltd., which was liquidated during the current period. The total weight of shares, the status of treasury stock, and lease-related expenses were discussed. Furthermore, it details the financial adjustments for the Group's various investments and the ongoing impact of economic conditions such as high inflation and global interest rates on the asset valuations. The children's livelihood support through a banking financial support plan reflects the Group's social responsibility efforts, which included considerable remuneration expenses for shared-based payments.