Shinhan Financial exceeds 100% support for K-New Deal innovation finance… Chairman Yong-Byeong Cho “Active Participation in Corona Financial Support”

Shinhan Financial exceeds 100% support for K-New Deal innovation finance… Chairman Yong-Byeong Cho “Active Participation in Corona Financial Support”

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100% exceeded the target for innovative finance loans and investments based on the’Shinhan NEO Project’ in 2020
Active participation in government future innovation projects to create an innovative growth ecosystem
Chairman Yong-Byeong Cho “Active Participation in Extending Corona 19 Loan Expiration and Deferring Repayment of Interest”

Yong-Byeong Cho, Chairman of Shinhan Financial Group [사진편집=오늘경제]
Yong-Byeong Cho, Chairman of Shinhan Financial Group [사진편집=오늘경제]

[오늘경제 = 장미란 기자]

Shinhan Financial Group announced on the 22nd that it has exceeded the annual target of support for K-New Deal innovation finance by 100%.

In addition, chairman Cho Yong-byung decided to actively participate in corona financial support, such as extending the maturity of the Corona 19 loan and extending the delay in repayment of interest.

◆’Shinhan NEO Project’ exceeded 100% of loan and investment target

Shinhan Financial Group (Chairman Yong-byeong Cho) announced that it has 100% exceeded the 2020 loan and investment targets of the’Shinhan NEO Project’, a new deal policy of finance to actively support the Korean version of the New Deal.

In June of last year, Shinhan Finance announced the’Shinhan NEO Project’ to support the discovery of new growth engines for the national economy in the post-corona era for the first time in the financial sector. They are actively supporting.

For’financial support for new growth industries’, loans provided to SMEs related to innovation and New Deal achieved 153% of the target by supplying 23.500 billion won, which exceeded the target of 15.400 trillion won last year.

In addition, it supported 35 trillion won out of the total supply target of 78 trillion won for the five years (2019-2023) by the end of last year, and recorded a cumulative progress rate of 44.9%, exceeding the appropriate progress rate of 40%.

In the field of innovation and new deal investments, respectively, compared to the previous year’s target, 132% (innovative investment target of 415 billion won/investment performance of 549.9 billion won) and 109% (New Deal investment target of 600 billion won/investment performance of 6562 billion won). They have exceeded their targets in the field.

◆ Various projects for future innovation such as the success of the K-New Deal

Shinhan Finance is carrying out various future innovation projects to faithfully fulfill the role of finance for future innovation in society.

In February 2019, it was the first financial sector to initiate the’Innovative Growth Project’ to create an innovative growth company ecosystem, and in December of that year, it announced that it will promote the’Triple-K Project’ to complete Shinhan Financial Group’s innovative financial platform.

Through the’Triple-K Project’, Shinhan Financial Group is building’Shinhan Square Bridge’, a group innovation growth platform, at national levels such as Seoul, Incheon, and Daejeon.It supports innovative companies to enter the global market, and operates programs to foster K-unicorns. It is carrying out various activities to build a foundation for innovation growth.

In addition, in June of last year, the group’s future innovation projects were advanced and expanded in stages, such as promoting the’Shinhan NEO Project’ to preemptively practice the role of finance to overcome Corona 19 and strengthen new growth engines in the post corona era. have.

Meanwhile, Shinhan Financial Group is actively participating in revitalizing policy-type new deal funds for the success of the K-New Deal, and is taking the lead in creating a private new deal fund.

Shinhan Financial Group’s group companies Shinhan Asset Management, Shinhan Venture Investment, and Shinhan Alternative Investment Management participated in the selection of a policy-type New Deal Fund manager managed by the government in January, and a total of 770 billion won (Shinhan Investment Fund) (Shinhan Investment Fund) Including 285 billion won in investment by financial group companies).

In addition, on the 4th of this month, a’future car and industrial digital sector industry-financial new deal investment cooperation business agreement’ was signed, and it was decided to participate in the creation of a future car and industrial digital sector fund with Hyundai Motor Group.

In the first quarter of this year, Shinhan Asset Management plans to launch the Shinhan Digital New Deal BTL Fund and Shinhan Green New Deal Fund with a total amount of 400 billion won this year. It is leading the creation of funds. In addition, it is not spared a variety of support, such as investing 32 billion won for companies selected for the government-led policy program’National Representative 1000 of Innovative Companies’.

◆ Yong-Byeong Cho, Chairman of Shinhan Finance, “Active Participation in Corona-related Financial Support”

On the 17th, Shinhan Finance Chairman Cho Yong-byeong told each group that they would actively participate in extending the maturity of loans for SMEs and small business owners and delaying interest repayment at the’Group Management Meeting’ held by video conferencing with all the CEOs of the group companies in attendance.

Earlier, Chairman Cho Yong-byung announced at a meeting with the chairman of the five financial holding companies presided over by the Chairman of the Financial Services Commission on the 16th that he would actively consider extending the maturity of loans for SMEs and small businesses and delaying interest conditions in order to respond to the Corona 19 crisis.

To this end, Shinhan Finance will use digital technologies such as AI and big data to predict various crisis situations and, based on this, will provide various financial support measures to ease the burden on customers such as extending the repayment period of deferred principal and interest and converting to long-term loans.

At the meeting on the day, Chairman Cho urged customers to faithfully fulfill the social role of finance, such as preparing various support measures so that customers can wisely overcome the difficulties experienced by the prolonged Corona 19.

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