Jakarta. Shinhan Financial Group Indonesia was officially launched on 12 October 2026, marking a new chapter of integration among Bank Shinhan Indonesia, Shinhan Indo Finance, and Shinhan Sekuritas Indonesia. Guided by One Shinhan, One Indonesia, the launch reaffirms a shared commitment to delivering more integrated financial solutions and supporting Indonesia’s economic growth.

In his remarks, Jin Okdong, Chairman and CEO of Shinhan Financial Group, described the launch of Shinhan Financial Group Indonesia as a new starting point for building greater trust. His message places trust at the foundation of deeper integration and long-term value creation for customers, partners, and communities in Indonesia.

The establishment makes Shinhan the first Korean financial group to introduce a local financial holding company structure in Indonesia. Bank Shinhan Indonesia continues its banking operations while also serving as the holding company for its Indonesian subsidiaries.

The launch was attended by H.E. Mr. Yoon Soongu, South Korean Ambassador to Indonesia; Mr. Jin Okdong, Chairman and CEO of Shinhan Financial Group; Bapak Soelistio Darmawan, Head of the Financial Conglomeration Supervision Department, Financial Services Authority (OJK); and Bapak Donald Panggari, Acting Head of the Private Bank Supervision Department I, Financial Services Authority (OJK).

Also present were Mr. Cho Myonghyon, CEO of Bank Shinhan Indonesia; Mr. Lee Sanghyuk, CEO of Shinhan Indo Finance; and Mr. Lee Yonghoon, CEO of Shinhan Sekuritas Indonesia.

A Stronger Foundation for Integration
The launch follows a governance restructuring process initiated in December 2024. Following regulatory approval in September 2025, the transition was completed on 16 September 2026 through subsequent procedures, including share transfers. Bank Shinhan Indonesia now holds 50% plus one share in each of Shinhan Indo Finance and Shinhan Sekuritas Indonesia.

This structure provides a foundation for closer coordination, stronger synergies across the entities, and more efficient decision-making in developing Shinhan’s Indonesian businesses.

Combining Capabilities to Meet Customer Needs
Shinhan Financial Group Indonesia brings together Bank Shinhan Indonesia’s banking capabilities, Shinhan Indo Finance’s financing expertise, and Shinhan Sekuritas Indonesia’s capital markets services. These complementary strengths provide a foundation for developing more comprehensive financial solutions for customers at different stages of business growth and financial management.

Through stronger synergies, the three entities are committed to broadening access to relevant financial services, improving connectivity across their offerings, and identifying opportunities to serve customers more comprehensively. Joint initiatives will be developed in accordance with applicable regulations, prudential principles, sound governance, and consumer protection requirements.

Expanding Engagement with Indonesian Businesses

Alongside the launch, Shinhan Financial Group signed a memorandum of understanding with Sinar Mas Multiartha on 12 October 2026. Mr. Fuganto Widjaja, Chairman of Commissioner of Sinar Mas Multiartha, signed on behalf of the company. The agreement provides a framework to explore opportunities in corporate finance and supply chain finance, supporting the group’s efforts to diversify and expand its business in Indonesia.

Mr. Jin Okdong also emphasized that the holding company structure provides a foundation for managing Shinhan Indonesia’s businesses cohesively. The agreement with Sinar Mas Multiartha represents a step toward expanding local business, delivering financial services tailored to Indonesian customers, and contributing to economic development in Indonesia and South Korea.

Turning Synergy into Meaningful Value
The official launch marks the beginning of a shared journey to translate integration into meaningful value for customers, partners, and communities. Priorities include strengthening coordination across the entities, developing a deeper understanding of customer needs, and creating solutions that draw on each company’s expertise.

By connecting banking, financing, and capital markets capabilities, Shinhan Financial Group Indonesia aims to support business activity, investment, and financial needs that contribute to Indonesia’s economic development.

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