Shinhan Financial Group is in the final stage of negotiations to acquire a consumer financial firm worth 100 billion won (US$88.81 milion) in Indonesia. An official from Shinhan Financial said, “We are promoting the acquisition of a local installment financing company to create a synergy in our busi
Shinhan Financial Group said that it was named among the 2019 Global 100 Most Sustainable Corporations. The group has made it to the top 100 list for seven years in a row.The world's most sustainable company list was announced at the World Economic Forum in Davos, Switzerland, on Jan. 22. In par
The truth committee under the Ministry of Justice has recommended the prosecution to investigate 10 former and incumbent executives of Shinhan Financial Group, including former chairman Ra Eung-chan, who are suspected of having given false testimony in trials on a corruption case that took place in
Shinhan Financial Group Co., a major South Korean financial holding company, is in the final stages of negotiations with MBK Partners to acquire a controlling stake in Orange Life, formerly known as ING Life Insurance, for 2.3 trillion won (US$2.07 billion). Orange Life is the group's first big
Two former heads of the personnel department of Shinhan Bank were arrested on suspicion of giving favors to the children of the bank’s former and incumbent executives in the hiring process.Yang Chul-han, chief judge at the Seoul Eastern District Prosecutor's Office issued an arrest warrant again
Moon Sung-hwan, president of Samyang Corp., a major Korean chemical and foodstuff company, is facing allegations that he has falsified his academic credentials.Moon faces the same allegations as those raised against Cho Young-byoung, chairman of Shinhan Financial Group. Cho was embroiled in controve
As the Shinhan Financial Group is negotiating the price of ING Life in the eleventh hour, it is forecast that ING Life's insurance sales force can be a key variable in price adjustment. ING Life Insurance is famous for its high proportion of male insurance planners and its strong sales power. Ho
Shinhan Financial Group will buy ING Life, Korea's sixth-largest life insurer, at about 2.4 trillion won (US$2 billion).Industry sources said on August 13 that Shinhan Financial agreed with MBK Partners, a private equity fund (PEF) management company, to acquire 59.15% stake of ING Life. The acq
The high price of ING Life Insurance Korea is precluding financial companies from bidding for the life insurance company even though they are interested in acquiring the life insurer, the biggest M&A offering in the financial industry.According to the financial industry on April 25, MBK Partners, th