Shinhan Bank Opens 'Expace', a Digital Business and Service Research Space

Research on New Business Models and Services Based on Digital Technology with Various Companies
Open Ceremony Held Online with Employees from Large Corporations, Global Companies, and Startups

The appearance of Jin Ok-dong, President of Shinhan Bank, and related personnel attending the non-face-to-face open event held on the 18th at Shinhan Expace located in Myeongdong, Jung-gu, Seoul.

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 21st that it has opened 'Expace,' a space for researching and testing new business models and services based on digital technology in collaboration with various companies.

'Expace,' remodeled from the building that previously housed the Myeongdong Station branch, is an open research and development (R&D) space designed to allow Shinhan Bank's digital personnel to freely interact with various companies outside the headquarters and collaboratively develop digital technologies.

Shinhan Bank has established the latest digital infrastructure here, including 5G mobile edge computing (MEC) and digital collaboration devices. Through this, it is possible to use the space as a testbed not only for sharing ideas and collaborating with large corporations, global companies, and startups but also for researching and testing new business models and services based on new digital technologies.

The opening ceremony held on the 18th, conducted in a non-face-to-face format, was attended by Shinhan Bank CEO Jin Ok-dong and other executives, as well as employees from strategic partners SKT, MS, Moduui Yeonguso, and Grape. Notably, Samsung Electronics' artificial human Neon appeared as the host, attracting attention.

Exterior view of the Shinhan Expace building located in Myeongdong, Jung-gu, Seoul.

Shinhan Bank plans to expand and open the third floor of the building where 'Expace' is located as a new space where all generations can experience financial education, hoping to revitalize the Myeongdong commercial district, which has recently become quiet due to COVID-19.

CEO Jin said, "We will strive to make 'Expace' a space that adds value to customers and society."

Meanwhile, Shinhan Bank plans to promote cooperation with Japan's Mizuho Bank to support investment attraction and overseas expansion of domestic startups collaborating at 'Expace.'

This content was produced with the assistance of AI translation services.