The National Pension Service (NPS) attended Shinhan Financial Group's "Jeonbuk financial hub launch ceremony" on the morning of the 24th.
Held in Jeonbuk Innovation City, the event coincided with the opening of Shinhan Fund Partners' Jeonju headquarters, the first step in Shinhan Financial Group's effort to build a Jeonbuk financial hub.
Shinhan Financial Group Chair Jin Ok-dong, along with executives from the group's banking, securities, asset management, and fund units, attended the event. In addition, about 30 people, including Jeollabuk-do Vice Governor for Economy Kim Jong-hoon and Jeonju Mayor Woo Beom-ki, were present.
Shinhan Fund Partners, which opened an office in Jeonju this time, went through a notice in June last year selecting a general administrative manager for National Pension investment assets, signed a service consignment contract with the service in December, and has been preparing for operations since January this year.
To ensure stable management of the fund, the National Pension Service has a back-office administrator that specializes in general administration such as calculating net asset value (NAV) for investment assets, checking compliance with laws and regulations, and supporting stock trade execution.
With this opening as a starting point for full-scale operations, 33 resident staff work at the Shinhan Fund Partners Jeonju headquarters, of whom seven were hired from local talent in Jeonju.
Starting with the launch of back-office administration, Shinhan Financial Group plans to cluster the entire value chain of capital markets businesses—including asset management, custody, and risk management—in Jeonbuk Innovation City to build a comprehensive asset management hub in Jeonju linked with the National Pension Service.
Kim Sung-joo, chair of the National Pension Service (NPS), said, "With Shinhan Financial Group's declaration of launching a Jeonbuk financial hub and the opening of Shinhan Fund Partners, vitality has been injected into the asset management ecosystem in Jeonbuk Innovation City," and added, "We hope other financial institutions will follow in succession so that agglomeration effects appear quickly."