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Shinhan Financial Group expansion in Central Asia
Overview
Shinhan Financial Group is expanding its presence in Central Asia through strategic agreements in Uzbekistan and Kazakhstan.
In Uzbekistan, the group signed a cooperation agreement with the Ministry of Investment, Industry and Trade. This partnership involves establishing a funding limit of up to $200 million for local financial institutions and participating in project financing for infrastructure and renewable energy sectors. Shinhan Financial Group Chairman Jin Ok-dong also met with Uzbek President Shavkat Mirziyoyev to discuss the expansion of local business operations.
In Kazakhstan, Shinhan entered into a memorandum of understanding with the state-owned development finance group, Baiterek. The collaboration focuses on sharing financial expertise through training and workshops to support Kazakhstan’s industrial development and provide financial assistance to Korean companies operating within the country.
Entities
Jin Ok-dong · Shinhan Financial Group · Shinhan Bank · Ministry of Investment, Industry and Trade of Uzbekistan · Kim Mi-jung
Timeline
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[BUSINESS] 2 sourcesShinhan Financial Group expands Central Asian network via Uzbekistan and Kazakhstan deals
Shinhan Financial Group has signed agreements with Uzbekistan and Kazakhstan to expand its Central Asian presence, including a $200 million funding limit for Uzbek financial institutions.
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[BUSINESS] 2 sourcesShinhan Bank expands financial services for Chinese Koreans in South Korea
Shinhan Bank partnered with the Federation of Chinese Koreans to expand financial services, including payroll and overseas remittances, for Chinese residents in South Korea.
Sources
biz.heraldcorp.com · dongponews.net · techholic.co.kr