Building on auto finance ties, Shinhan Securities Vietnam sole arranger for Vingroup's 300 billion won Arirang bond

The headquarters of Shinhan Financial Group in Jung-gu, Seoul. [Provided by Shinhan Bank]
The headquarters of Shinhan Financial Group in Jung-gu, Seoul. [Provided by Shinhan Bank]

Shinhan Financial Group said Friday it will expand its cooperation with Vingroup, Vietnam's largest private conglomerate, beyond auto finance into capital markets, insurance and digital services.

The announcement followed talks Shinhan Financial held with Vingroup executives Thursday at Shinhan Bank Vietnam's headquarters in Ho Chi Minh City, where both sides agreed to deepen collaboration across all business lines. Shinhan Financial said it plans to build a locally integrated business model by combining the capabilities of its subsidiaries and strengthen its growth base in the Vietnamese market.

Shinhan Financial had previously built a business relationship with Vingroup — whose core operations span real estate and electric vehicles — centered on auto finance. Shinhan Bank Vietnam has extended a cumulative $100 million in auto loans to customers purchasing vehicles from VinFast, Vingroup's electric vehicle manufacturing affiliate, since 2024. Shinhan Vietnam Finance also provided installment financing of 15 billion won ($10.9 million) covering about 14,000 VinFast motorcycles in the first half of this year.

Building on that track record, the two sides plan to expand cooperation into capital markets work by Shinhan Securities Vietnam — including fundraising, equity investment and mergers and acquisitions — healthcare and digital insurance through Shinhan Life Vietnam, and digital transformation and finance-linked systems development through Shinhan DS Vietnam.

Shinhan Securities Vietnam has been appointed sole arranger for Vingroup's issuance of 300 billion won ($217 million) in Arirang bonds — Korean won-denominated bonds issued in the domestic market — targeting a mid-October launch, and has spent more than five months canvassing demand among domestic institutional investors. Shinhan Securities will also participate as a co-lead manager for the domestic bond issuance and plans to make a direct investment of 40 billion won.

Meanwhile, Shinhan Financial also held the "Shinhan Future's Lab Vietnam Demo Day" on Friday to support South Korean startups seeking to enter the Vietnamese market. It also signed an MOU with the Korea Credit Guarantee Fund to jointly identify and nurture companies expanding overseas, linking business development with financial support.

"Vietnam is a key global business hub for Shinhan Financial, and we have steadily expanded our business footprint based on local customers and companies," Shinhan Financial Group Chairman Jin Ok-dong said. "We will build on the business experience accumulated with Vingroup to broaden our cooperation into capital markets, insurance and digital services, and create new business opportunities."


forest@heraldcorp.com