Shinhan Financial Partners with Vietnam’s Top Vingroup to Expand Cooperation into Capital Markets

Expanding Partnership Beyond Auto Finance
to Capital Market Collaboration Including Capital and Bond Raising

Shinhan Financial Group announced on September 20 that it will expand its partnership with Vingroup, Vietnam's largest conglomerate, beyond auto finance to include capital market activities such as capital and bond raising.

Jin Okdong, Chairman of Shinhan Financial Group (left), is having a meeting with Nguyen Quoc Tuan, Vice Chairman of Vingroup, at the Shinhan Vietnam headquarters in Ho Chi Minh City, Vietnam, on the 17th, followed by a commemorative photo. Provided by Shinhan Financial Group

In this regard, on September 17, Shinhan Financial held a meeting with the management of Vingroup at the Shinhan Vietnam Bank headquarters in Ho Chi Minh City to discuss the expansion of cooperation.

So far, Shinhan Financial has built business relationships with Vingroup—which leads Vietnam’s real estate and electric vehicle sectors—mainly focused on auto finance. Since 2024, Shinhan Vietnam Bank has provided a cumulative total of 100 million dollars in auto loans to customers purchasing vehicles from VinFast, Vingroup’s electric vehicle manufacturer. In the first half of this year, Shinhan Vietnam Finance also offered installment financing worth 15 billion won for approximately 14,000 VinFast motorcycles.

Based on their previous business experience, the two parties agreed to further broaden their cooperation in the following areas: exploring capital market business opportunities such as capital and bond raising through Shinhan Investment Vietnam; and expanding the scale and scope of business for Shinhan Vietnam Bank and Shinhan Vietnam Finance in response to increased demand for VinFast electric vehicles.

Specifically, Shinhan Investment Vietnam has been serving as the sole financial arranger for Vingroup’s issuance of its first Arirang Bond (won-denominated bond), targeting a fourth-quarter launch, and has been identifying demand among domestic institutional investors. Shinhan Investment is also participating as a joint bookrunner for the domestic bond issue and is preparing to invest directly in the amount of 40 billion won.

Together with these discussions on cooperation, Shinhan Financial hosted the 'Shinhan Futures Lab Vietnam Demo Day' to support domestic startups entering the Vietnamese market. It also signed a financial business agreement with Korea Credit Guarantee Fund to jointly discover and nurture companies expanding overseas, and to provide support connecting commercialization and financial services.

Jin Okdong, Chairman of Shinhan Financial Group, stated, "Vietnam is a major global business hub for Shinhan Financial, where we have expanded our business portfolio based on local customers and companies. With our accumulated business experience with Vingroup, we will continue to broaden the scope of our partnership into various areas, including the capital market, to create new business opportunities."

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