The National Pension Service said on the 30th that it welcomes Shinhan Financial Group's decision to build the entire capital markets business value chain in the Jeonbuk Innovation City at the group level.
Shinhan Financial Group's decision aims to establish an asset management and capital markets hub in the Jeonbuk Innovation City. It is the second move following KB Financial Group's announcement to create a financial town.
Shinhan Asset Management plans to open an office in Jeonju this year. Shinhan Fund Partners, selected as the National Pension Service's domestic asset custodian, has already had about 30 employees working in Jeonju since January this year. The group also said it plans to set up a customer call center in Jeonju, the first outside the greater Seoul area.
Shinhan Financial Group also noted that, under the group policy to create a capital markets base with more than 300 employees in the future, it will actively participate in building Jeonbuk's financial ecosystem.
Kim Sung-ju, chairman of the National Pension Service, said, "With consecutive decisions by financial groups, the foundation for building an asset management ecosystem is being strengthened," and added, "We look forward to Shinhan Financial growing together with the National Pension Service."