Shinhan Bank Opens 'Shinhan SOL Cluster' in Busan to Support Maritime Industry

Deployment of Specialized Relationship Managers and Expert Loan Examiners

Financial Support for Shipbuilding, Defense, Naval MRO, Ports, and Logistics

Shinhan Bank announced on August 12 that it has opened the 'Shinhan SOL Cluster Busan' in Busan, officially launching comprehensive support for the southeastern maritime industry and small and medium-sized, as well as mid-sized, enterprises in the region.

At the opening ceremony of "Shinhan SOL Cluster Busan" held on the 11th at Shinhan Bank Busan Seomyeon Financial Center located in Busanjin-gu, Busan, CEO Jung Sanghyuk of Shinhan Bank (seventh from the left) and related personnel are taking a commemorative photo. (From the left) Dongseok Park, Director of Advanced Industry Bureau of Busan City; Seongho Kim, Chairman of HC Shipping; Geumsik Choi, Chairman of Busan Shipbuilding and Marine Equipment Industrial Cooperative; Inhwa Jang, Chairman of Busan Center for Creative Economy and Innovation; Byunggil Ahn, President of Korea Ocean Business Corporation; Jaesoo Jeon, Mayor of Busan Metropolitan City; CEO Jung; Myungkyu Kang, Head of Loan Group at Shinhan Bank; Gungil Yang, Head of Business Promotion Group 2 at Shinhan Bank. Provided by Shinhan Bank.

The opening ceremony, which took place the previous day at the Shinhan Bank Busan Seomyeon Financial Center in Busanjin-gu, was attended by Shinhan Bank President Jung Sanghyuk, Mayor of Busan Jeon Jaesu, Korea Maritime Promotion Corporation President Ahn Byunggil, Director Park Dongseok of Busan Metropolitan City's Advanced Industry Bureau, Chairman Jang Inhwa of the Busan Center for Creative Economy and Innovation, and Chairman Kim Seongho of HC Shipping, along with other key representatives from regional government, public, industry, entrepreneurship, and finance sectors.

'Shinhan SOL Cluster Busan' began operations on July 1. The opening event was organized to share the cluster’s founding purpose and role with the local community and to lay the foundation for collaboration by linking Busan's industrial policies and the financing needs of local enterprises with practical support.

The Shinhan SOL Cluster serves as a regional financial hub platform, identifying businesses centered on local strategic industries and providing comprehensive support, ranging from assessing funding needs and offering financial support to connecting with policy finance and broader group resources. Beyond basic lending to individual companies, the cluster is tasked with examining industrial changes and investment plans in the region, and proactively discovering promising companies and new projects for future growth.

In Busan, support will be focused on shipbuilding, defense, and naval MRO (maintenance, repair, and overhaul), as well as on port and logistics sectors. Shinhan Bank will oversee the entire supply chain, supporting not only anchor companies such as major shipbuilders, defense contractors, and shipping firms, but also small and mid-sized partners engaged in equipment, parts, and maintenance. The bank also plans to proactively respond to emerging financial needs in the shipping, port, and logistics sectors, especially as new opportunities arise from the development of Arctic shipping routes and the transition to smart ports.

Reflecting these industrial characteristics, the cluster will offer working capital before order receipt and delivery, raw material purchasing funds, export-import financing, and equipment investment financing tailored to each company’s growth stage and business features. In addition, Shinhan Financial Group’s broad range of services, including investment financing, capital market solutions, and corporate consulting, will be provided to deliver integrated financial solutions that meet the unique demands of each enterprise.

To ensure execution, Shinhan Bank has assigned industry-specialized relationship managers (RMs) and expert loan examiners from the Corporate Credit Review Department to the field, all equipped with a deep understanding of the industry and strong corporate finance capabilities. Together with regional headquarters and branch offices, these experts will review business plans, funding structures, and feasibility from the early stages, and, when necessary, connect with the main office’s investment banking (IB) division, group affiliates, and related policy and support institutions.

President Jung said, "Busan has long served as a pillar of South Korea's economy, anchored by its port and logistics industries. It is very meaningful to accompany Busan as it prepares for a new leap forward, grounded in its rich history and resilience." He added, "Through the Shinhan SOL Cluster, we will work closely with local companies to proactively discover needed financial solutions and achieve real growth together."

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