1. Purpose

Shinhan Financial Group (hereinafter referred to as “Group”) shall recognize and make efforts to put the importance of the principle and philosophy of social responsibility of business into practice for the sustainable growth of the Group, and highly regard the values of the Group’s partners as win-win companions that are share such understandings and practices (which refers to entities or individuals who provide directly or indirectly provide goods or services to the Group regardless of their names. The rest is the same as above.).

The Group shall respect the partner companies’ autonomy and independence, and hopes that they can sincerely carry out and comply with 「the Shinhan Financial Group’s Code of Conduct for Partner Companies」 (hereinafter referred to as “Code of Conduct”) in order to meet the principle and philosophy of the Group’s social responsibility of business.

2. Scope of Application

All the companies of the Group (Shinhan Financial Group Co., Ltd., its subsidiaries and sub- subsidiaries, etc.) may give advice to all partner companies to voluntarily carry out the Code of Conduct regardless of the place of business performance.

Partner companies shall protect and respect the fundamental rights of all their employees in the workplace (including contract, part-time, and any other type of employees), and make efforts to improve working conditions for them.

1. Voluntary Work

The employees shall comply with the relevant laws and bylaws in carrying out their duties, and shall not request or direct their co-workers or junior subordinates to carry out duties in violation of the laws and bylaws.

2. Prohibition of Labor Exploitation and Protection of Vulnerable Working Classes

Partner companies shall not hire any employees under the age of 15 in accordance with the relevant laws and regulations. In addition, they shall not cause vulnerable classes including females and the disabled to do morally or sanitarily hazardous or dangerous works.

3. Working Hours

Partner companies shall comply with the work hours prescribed by the relevant laws and regulations, and overtime works shall be based on voluntary intention in principle.

4. Wages and Benefits

Partner companies shall pay employees more than the minimum wage prescribed by the relevant laws and regulations, and offer the compulsory benefit package. In addition, partner companies shall pay wages in an appropriate and timely way, and notify their employees of the basis of the calculated wages in a transparent manner.

5. Protection of Privacy and Humanitarian Treatment

Partner companies shall protect their employees’ privacy including personal information, and not give them treatment likely to damage personal dignity. Partner companies shall not give their employees inhumane treatment of physical or mental mistreatment such as sexual abuse including sexual harassment, corporal punishment, and verbal abuses.

6. Nondiscrimination

Partner companies shall give equal opportunities to their employees. With respect to employment, promotion, compensation, or opportunities for training, they shall not unfairly treat their employees on the ground of their nationality, gender, religion, social status, etc.

7. Establishing the Procedures to Prevent Infringement of Human Rights

Partner companies shall use their best efforts to prevent violations of their employees’ human rights by establishing and operating relevant systems or procedures to resolve the causes of infringement of human rights.

Partner companies shall recognize that a safe and healthy working environment can maintain and improve their employees’ safety and health. As a result, they can also improve the quality of their goods and services and to enable their sustainable production.

1. Occupational Safety

Partner companies shall eliminate the risk factors that may threaten the safety of their employees. For this purpose, they shall provide their employees with appropriate personal protective gears, establish technical control devices or prepare safety work procedures, and provide continuous safety education to their employees.

2. Management of Industrial Accidents and Diseases

Partner companies shall prepare systems and procedures to prevent and manage occupational accidents and diseases.

3. Occupational Sanitation and Health

Partner companies shall provide sanitary working environments and subsidiary facilities to their employees, and they shall make efforts to improve working conditions continuously to prevent damage caused by to the health of their employees due to excessive fatigue and stress.

Partner companies shall recognize their responsibility for the environment, maintain public health and safety in all areas of their business activities, and minimize negative impacts on the local communities and the environment.

1. Compliance with Environmental Laws and Regulations

Partner companies shall sincerely comply with the environment-related laws and regulations, and they shall acquire, maintain and manage their environmental licensing and registration requirements specified under the laws and regulations.

2. Waste Reduction and Efficient Use of Resources

Partner companies shall reduce or eliminate all types of wastes by changing the process, substituting raw materials, recycling or reusing materials, etc. In order to reduce resource usage, they shall make efforts to ensure efficient use of resources by purchasing environment-friendly energies, waters, etc.

3. Prevention of Environmental Pollution

Partner companies shall make their best efforts to identify substances that may be hazardous to human body or cause environmental pollution, and then they shall try to handle and manage the substances safely.

Partner companies shall recognize the importance of business ethics for sustainable growth, and they shall manage and oversee their employees’ activities to comply with the standards of judgment and ethical decision-making including the following matters.

1. Carrying out duties fairly and honestly

Partner companies shall ensure that their employees do not engage in unfair transactions or undermine the fair market order, and they shall manage and oversee their employees’ activities to carry out duties honestly and transparently.

2. Prohibition of Bribery and Anti-corruption

Partner companies shall establish policies and standards for prohibition of bribery and anti-corruption, and they shall manage and oversee their employees’ activities to comply with the policies and standards.

3. Privacy Protection

Partner companies shall protect personal information including their customers in accordance with the relevant laws and regulations, and they shall take technical and physical measures for this purpose.

4. Win-Win Partnerships

Partner companies shall build win-win relationships of mutual respect with their partner companies, and they shall not compel their partner companies to engage in unfair activities by taking advantage of their superior positions.

5. Making Contributions to Community

Partner companies shall recognize their responsibility for making contributions to their communities as the bases for their business activities, share social responsibilities with interested parties in their communities, and actively participate in community service activities.