South Korea-based Shinhan Financial Group opened its new consolidated headquarters in Ho Chi Minh City, Vietnam on 15th August 2024.
The new Mett Building premises will house over 1,200 employees relocating from five different group subsidiaries – Shinhan Bank, Shinhan Card, Shinhan Securities, Shinhan Life, and Shinhan DS. They oversee the group’s banking, cards, brokerage, life insurance and digital solutions.
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The relocation aims to strengthen collaboration among its subsidiaries and boost its regional competitiveness.
The move is backed by a solid annual performance in the country. Shinhan was the top Korean financial service provider in Vietnam in 2023. It registered a reported profit of $105.6m (142.7bn won). It represents over a third of the total profit of Korean players in the market.
Jin Ok-dong, chairman of Shinhan Financial Group said, the company seeks to “provide financial solutions unmatched by competitors in the market, propelled by close collaboration among subsidiaries in Vietnam. Relocation to the new office in the commercially busiest financial hub of Vietnam will elevate Shinhan as the top service provider defined by a customer-oriented business mindset, an indication of a great stride forward.”
Earlier this year in July, Shinhan Bank opened a new branch in Monterrey, Mexico. In 2023, it opened a new branch in Hanoi, Vietnam.
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By GlobalDataShinhan Financial Group Co Ltd offers a range of diverse financial solutions through its subsidiaries. It has around 21,000 employees globally.
