Shinhan Financial Group concluded MOU for strategic Alliance with the BNP Group of France, one of the top 10 financial services group, on June 28, 2000. This strategic cooperation is not a short-term financial investment but an operational investment for pursuing long-term corporate values.
The cooperation aims at building up comprehensive partnerships over the entire sector of business.

To achieve this aim, both groups will consolidate partnership through sharing group resources and capabilities, spread joint business across various financial areas and make efforts to improve management know-how and transparency of the Holding Company.

The important parts of the strategic cooperation will be seen in the establishment of joint ventures in the area of which the feasibility was confirmed, with capital contribution corresponding to 4% equity (the acquisition limit by one person in the holding company under the current regulations) of the Company within 6 months after establishing the Holding Company. It was also agreed to actively search for cooperative business in other business divisions such as securities, asset management, private banking and so on in the future.

Shinhan Financial Group, a leader in the Korean financial industry, will provide customers with even newer and more various financial services through the strategic alliance with the BNP Paribas Group, while making every efforts to maximize corporate values to meet the interests of stockholders and market-centered management.

BNP PARIBAS

1. 01. BNP paribas was established through the merger between Banque NATIONAL DE Paris. a leading French commercial bank and Paribas, a strong French investment Bank in 2000.
2. 02. One of the 6 financial services groups in the world in 2007 selected by the Forbes
3. 03. The Group records 4.1 billion and 20 billion Euro of net profit and 20.9% of ROE in 2000, showing high profitability
4. 04. Achieved the global-scale net income of 7.3 billion Euros in 2006 with 1.4 trillion Euros in asset
5. 05. Based in Europe, the company’s operating network spans 85 countries in Asia, the Middle East, the U.S., Africa and Latin America with total workforce of 140,000.