Shinhan Financial Group Recommends Yang In-jip and Jeon Myo-sang as Outside Director Candidates

by Kim Hye Min

Published 04 Mar.2025 17:02(KST)

Shinhan Financial Group held the Outside Director and Audit Committee Candidate Recommendation Committee (Nomination Committee) on the 4th and announced the recommendation of a total of two new outside director candidates, including Yang In-jip and Jeon Myo-sang.

Yang In-jip, Chairman of Onicom, recommended as an outside director of Shinhan Financial Group. Photo by Shinhan Financial Group.

Certified Public Accountant Jeon Myo-sang, recommended as an outside director of Shinhan Financial Group. Provided by Shinhan Financial Group.

The new outside director candidates are Yang In-jip, Chairman of Unicom, and Jeon Myo-sang, a certified public accountant in Japan. They are expected to fill the positions of directors Jin Hyun-duk and Choi Jae-bung, who announced their intention to resign ahead of their term expiration in March.

The Nomination Committee stated the reason for recommending candidate Yang as follows: "He has led a company specializing in big data, machine learning, AI-based solutions and software, mobile application development, and ICT quality verification for a long time." They added, "He possesses professional understanding of digital business and ICT technology and has diverse experience as a professional manager, including serving as president of overseas operations at a non-life insurance company and a major domestic corporation." Furthermore, they said, "We expect that the candidate’s expertise and insight in digital and ICT technologies will contribute to providing in-depth advice to achieve Shinhan Financial’s goal of enhancing customer convenience."

Regarding candidate Jeon, they introduced him as "an accounting and finance expert with extensive experience in auditing various financial institutions including banks and securities firms at a local Japanese accounting firm, and having been dispatched as an accounting advisor to the Development Bank of Japan." They added, "In a situation where the board’s role in internal control has become increasingly important, we expect him to faithfully perform the role of oversight and monitoring through his professional advice."

They recommended the reappointment of five outside directors whose terms expire in March: Kwak Soo-geun (Emeritus Professor at Seoul National University Business School), Kim Jo-seol (Professor at Osaka University of Commerce, Department of Economics), Bae Hoon (Lawyer at Orbis Law Firm), Yoon Jae-won (Professor at Hongik University Business School), and Lee Yong-guk (Adjunct Professor at Seoul National University Law School), as well as the reappointment of non-executive director Jung Sang-hyuk, who was reappointed as Shinhan Bank President in January.

Additionally, candidates Kwak Soo-geun, Bae Hoon, and Yoon Jae-won were re-nominated as audit committee candidates, and candidate Lee Yong-guk was also recommended as an audit committee candidate, expanding the number to four. The Nomination Advisory Group, introduced in 2023, also participated in this candidate recommendation process.

The outside director, non-executive director, and audit committee candidates recommended on this day are scheduled to be finally appointed at the regular shareholders’ meeting to be held this month.