Jin Ok-dong, chair of Shinhan Financial Group, won another term. Jin, who took office in March 2023, will lead Shinhan Financial Group through March 2029.
The Shinhan Financial Group chair candidate recommendation committee (Chair Recommendation Committee) met on the morning of the 4th at the group's headquarters in Jung-gu, Seoul, and solely recommended Jin as the candidate for the next chair and CEO.
Chairperson Kwak Soo-geun explained the reason for the recommendation, saying, "Not only did the candidate possess the insight, ethics, professional expertise, and organizational capability required of a chair, but the candidate also proved management ability by delivering remarkable results during the term."
Kwak added, "Beyond simple financial performance, the candidate earned high marks for strengthening the group's future competitiveness in digital and global areas, elevating corporate value through the Shinhan Value-up Project, and establishing a differentiated internal control culture to reinforce sound management."
After beginning the process to select the next chair on Sept. 26, the committee held three deliberations and finalized a shortlist of four candidates, including Jin; Jeong Sang-hyuk, president of Shinhan Bank; and Lee Sun-hoon, CEO of Shinhan Investment & Securities.
At the meeting, the committee verified the shortlist candidates' management performance and capabilities and their eligibility, reviewed background checks conducted by an external professional institution, and then conducted in-depth interviews with the candidates. The expanded committee, joined by all outside directors, held the in-depth interviews and selected the final candidate by vote.
Jin, recommended as the final candidate, will take office as chair after approval at Shinhan Financial Group's regular shareholders meeting and board meeting in March next year.
Born in 1961, Jin graduated from Deoksoo Commercial High School and Korea National Open University's business administration program and earned a master's in business administration from Chung-Ang University. After joining Industrial Bank of Korea (IBK) in 1980, Jin moved to Shinhan Bank in 1986, serving as head of the Osaka branch in Japan and head of the Japan subsidiary before becoming president of Shinhan Bank in 2019.
Before the in-depth interview that day, Jin told reporters, "I intend to speak about what is needed for Shinhan to continue for 50 and 100 years, and what my role should be."