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| Shinhan Financial Group Chairman Jin Ok-dong speaks during his appointment ceremony held at the group headquarters in Seoul, March 23. Courtesy of Shinhan Financial Group |
By Lee Yeon-woo
Shinhan Financial Group Chairman Jin Ok-dong kicked off his first overseas investor relations meeting in Japan on Wednesday.
The financial group announced on Thursday that Jin went on a business trip to Japan to attract investment from Japanese institutional investors and to promote better private sector exchanges between Korea and Japan.
This is the first time that Jin has attended an overseas investor relations meeting since starting his new job in March. Before becoming the chairman of the financial group recently, Jin had been CEO of Shinhan Bank.
His meetings began on Wednesday and will continue to Friday.
"If various communications restart in the private sector, the relationship between Korea and Japan will make a faster recovery," Jin said. "Shinhan Financial Group will be a cornerstone and make efforts to promote private sector exchanges in areas including investments and trade."
During his visit, Jin aims to attract more investments from Japanese investors, not only for Shinhan Financial Group but also for the Korean capital market, while serving as a bridge in promoting better relationships between the two countries.
Jin will visit the Financial Supervisory Agency of Japan, and discuss ways to support its Japanese corporate body, Shinhan Bank Japan (SBJ).
He is also expected to consult with the agency about Korean startups entering the Japanese market and how to support them. Since 2015, the group has been supporting domestic startups via Shinhan Future's Lab, its accelerator program.
Additionally, he will strengthen cooperation with Mizuho Financial Group, Sumitomo Mitsui Banking Corporation (SMBC), Bank of Japan (BOJ) and Nomura Securities, as well as Daiwa Securities, in various sectors such as global business, digital, and environmental, social and corporate governance (ESG).
Jin is an expert in the Japanese market as he has spent more than half of his career with the group in Japan. In 2009, he also played a crucial role in launching SBJ in the country, where he held office as overseas president of the bank. It is known that support from ethnically Korean Japanese shareholders tipped the balance of scales in his election as chairman of the group.
"Given the recent reconciliation and cooperation between Korea and Japan, Japan was chosen as the destination for Jin's first overseas investor relations meetings," an official from the group said. "His extensive experience in Japan and ongoing communication with the country leads us to anticipate successful results from these meetings."
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