Shinhan Financial Group announced that Chairman Jin Ok-dong has been chosen as the sole final candidate for a second term, effectively securing his reappointment following the recommendation committee's decision.
Jin received commendations for achieving impressive financial outcomes during the previous three years, as well as for actively contributing to the enhancement of the group's enduring viability.
It is anticipated that he will be officially appointed subsequent to receiving approval at the standard shareholders' assembly and board meeting scheduled for March, upon the completion of his existing tenure.
The duration of his upcoming term will be for a period of three years. Since assuming the role in 2023, Jin has guided the team to unprecedented achievements for two successive years.
The total net profit of Shinhan up to the third quarter of 2025 has soared to 4.46 trillion won ($3 billion), setting yet another pinnacle.
"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 says.
"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 adds.
The company has also defined ambitious objectives for shareholder returns up to 2027, which encompass achieving a 10 percent return on equity, a 50 percent payout ratio, and a decrease of 50 million outstanding shares.
Jin embarked on his professional journey at the Industrial Bank of Korea in 1980 before transitioning to Shinhan Bank in 1986. During 18 years in the banking industry, he dedicated his expertise to the Japanese market, serving as the leader of Shinhan Bank's Osaka branch and subsequently assuming the role of chief at Shinhan Bank Japan. His tenure in Japan fostered a strong rapport with Korean Japanese stakeholders, who represent the largest investor group for Shinhan Financial.
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.