Financial support strengthened for maritime industries including shipbuilding, defense and ports

Specialized relationship managers, expert credit reviewers deployed on-site from early stage

Participants pose for a photo at the opening ceremony of Shinhan SOL Cluster Busan, held Tuesday at Shinhan Bank's Busan Seomyeon Financial Center in Busanjin-gu, Busan. From left: Park Dong-seok, director of the Advanced Industries Bureau of Busan Metropolitan City; Kim Seong-ho, chairman of HC Shipping; Choi Geum-sik, chairman of the Busan Shipbuilding and Marine Equipment Industry Cooperative; Jang In-hwa, chairman of the Busan Creative Economy Innovation Center; Ahn Byeong-gil, president of the Korea Ocean Business Corporation; Jeon Jae-soo, mayor of Busan; Jeong Sang-hyeok, president of Shinhan Bank; Kang Myeong-gyu, head of the Credit Group; Yang Gun-gil, head of Sales Promotion Group 2; and other officials. [Shinhan Bank]
Participants pose for a photo at the opening ceremony of Shinhan SOL Cluster Busan, held Tuesday at Shinhan Bank's Busan Seomyeon Financial Center in Busanjin-gu, Busan. From left: Park Dong-seok, director of the Advanced Industries Bureau of Busan Metropolitan City; Kim Seong-ho, chairman of HC Shipping; Choi Geum-sik, chairman of the Busan Shipbuilding and Marine Equipment Industry Cooperative; Jang In-hwa, chairman of the Busan Creative Economy Innovation Center; Ahn Byeong-gil, president of the Korea Ocean Business Corporation; Jeon Jae-soo, mayor of Busan; Jeong Sang-hyeok, president of Shinhan Bank; Kang Myeong-gyu, head of the Credit Group; Yang Gun-gil, head of Sales Promotion Group 2; and other officials. [Shinhan Bank]

Shinhan Bank has launched a region-specific financial platform called Shinhan SOL Cluster Busan to support small and midsize companies in the southeastern maritime industries, including shipbuilding, defense and shipping. The initiative marks the bank's push to scale up its corporate banking model in support of the region's strategic industries.

Shinhan Bank held the opening ceremony for Shinhan SOL Cluster Busan on Tuesday at its Busan Seomyeon Financial Center in Busanjin-gu, Busan.

Shinhan Bank President Jeong Sang-hyeok attended alongside Busan Mayor Jeon Jae-soo, Korea Ocean Business Corporation President Ahn Byeong-gil, Busan Advanced Industries Bureau Director Park Dong-seok, Busan Creative Economy Innovation Center Chairman Jang In-hwa, Busan Shipbuilding and Marine Equipment Industry Cooperative Chairman Choi Geum-sik and HC Shipping Chairman Kim Seong-ho, among others.

The SOL Cluster is a regional financial platform designed to identify high-growth companies and new projects centered on local strategic industries. It offers comprehensive support spanning financing needs assessments, financial services and linkages to policy finance and Shinhan Financial Group affiliates. Rather than providing simple loans to individual companies, the platform proactively tracks industry shifts and investment plans to deliver financial solutions tailored to each company's stage of growth.

The Busan cluster, which began operations last month, focuses primarily on shipbuilding, defense, and naval vessel maintenance, repair and overhaul, as well as port and logistics sectors. Its support covers the entire supply chain — from large anchor companies in shipbuilding, defense and shipping to small and midsize suppliers in equipment, components and maintenance.

The platform will also address new financing needs arising from the development of Arctic shipping routes and the transition to smart ports. Depending on a company's growth stage and business profile, support will include working capital ahead of orders and deliveries, raw material procurement financing, trade finance and facility investment financing. The bank also plans to connect clients with Shinhan Financial Group services such as investment banking, capital markets solutions and corporate consulting.

To strengthen the effectiveness of its financial support, the bank has established a field-centered review system. Specialized relationship managers with deep industry knowledge and corporate banking expertise, along with dedicated credit reviewers from the corporate lending division, will be deployed on-site to assess business plans, funding structures and feasibility from the earliest stages. When needed, the platform will also draw on expertise from the bank's headquarters investment banking division, group affiliates and relevant policy institutions.

"Busan has long served as a pillar of the Korean economy, built on its port and logistics industries," Shinhan Bank President Jeong said. "Through Shinhan SOL Cluster Busan, we will work closely with local companies to identify the financial solutions they need and build real growth together."

Shinhan Bank plans to work with the Busan city government, the Korea Ocean Business Corporation and industry associations to better understand local companies' order pipelines, investment plans and financing challenges, and to strengthen a support system covering everything from company identification through financial execution to post-management follow-up.


forest@heraldcorp.com