Shinhan Financial Group announced on the 4th that it will recommend Yang Jin-jip, chairman of Unicom, and Jeon Myo-sang, general manager of SmartNews Japan, as new outside directors.
Chairman Yang graduated from Waseda University in Japan and has served as president of HiteJinro's overseas business division, as well as president of Samsung Fire & Marine Insurance. He also served as chairman of the Korea-Japan Corporate Network. Shinhan Financial described Chairman Yang as "a professional manager with a deep understanding of digital business and information and communication technology (ICT), who has diverse experience, including serving as president overseeing overseas operations for a domestic large corporation and a non-life insurance company."
General Manager Jeon obtained a certified public accountant qualification in Japan and has been responsible for auditing financial companies, including banks and securities firms, at a local accounting firm for a long time. He currently works at SmartNews, a news curation service in Japan. Shinhan Financial expressed expectations that Jeon will provide professional advice on internal controls while also acting as a check and balance on management as an accounting and finance expert.
Shinhan Financial's board of directors recommended the reappointment of five outside directors whose terms expire this month: Kwak Soo-geun (emeritus professor at Seoul National University Business School), Kim Jo-seol (professor at Osaka University of Commerce), Bae Hoon (attorney at Orbis Law Firm), Yoon Jae-won (professor at Hongik University Business School), and Lee Yong-guk (visiting professor at Seoul National University School of Law). Directors Jin Hyun-deok and Choi Jae-bung, who expressed their intention to resign, will retire following this month's regular shareholders' meeting.
Among the nine outside directors of Shinhan Financial, four are women. Previously, there were three: Yoon Jae-won, the board chair and professor at Hongik University, Kim Jo-seol, a professor at Osaka University of Commerce, and Song Seong-joo, a professor at Korea University.