Shinhan Financial Group Chairman Jin Ok-dong said that building trust with customers is what will carry Shinhan Financial through the next 100 years and make it a world-class institution.
Jin made the remarks in "The Dream of Finance for the Nation," a documentary released Sunday through the YouTube channel Sampro TV. "I don't think being No. 1 financially is what allows a company to last 100 or 200 years," he said. The documentary chronicles how Shinhan Bank built a global network of 238 offices across 20 countries.
"The essence of a financial company is earning the trust of its customers," Jin said. "If banking with Shinhan becomes something people take pride in, the group can go on for 100 or 200 years."
He particularly recalled the launch of SBJ Bank, Shinhan's Japan-based subsidiary, in September 2009, saying he had persuaded then-Chairman Ra Eung-chan to approve the venture. "I convinced Chairman Ra that we needed to — and could — establish a bank in Japan, and he gave us the green light," Jin said.
He added that he had told his staff they would all have to "drown in the Korea Strait" if they failed to obtain a banking license within a year — and that they delivered within that deadline.
To mark its 44th founding anniversary, Shinhan Financial began releasing a three-part documentary series tracing the group's founding and growth on July 7. The first installment, "The Dream of Finance for the Nation," spotlights the ethnic Korean residents of Japan who became founding shareholders of Shinhan Bank.
The second part, "Roots in the Storm, Growing into a Great Tree," covers the establishment of Shinhan Financial Group and its growth into a comprehensive financial conglomerate through the acquisition of LG Card. The third, "K-Finance Takes Root in the World," highlights the group's overseas expansion and global achievements. Last year, Shinhan Financial posted a pre-tax profit of 1 trillion won ($672 million) from its global operations.
forest@heraldcorp.com
