Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 669

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 669
---
     |           |     17,187 |   |     |           |      531 |   |     |               |          — |   |     |         |     17,718 |   |
| Liability under insurance contracts                                            |     |           |     93,537 |   |     |           |  (82,092 | ) |     |               |          — |   |     |         |     11,445 |   |
| Others                                                                         |     |           | (1,588,403 | ) |     |           | (754,058 | ) |     |               |    790,948 |   |     |         | (1,551,513 | ) |
|                                                                                |     |           |   (114,758 | ) |     |           | (166,918 | ) |     |               |   (307,868 | ) |     |         |   (589,544 | ) |
| Expired unused tax losses:                                                     |     |           |            |   |     |           |          |   |     |               |            |   |     |         |            |   |
| Extinguishment of deposit and insurance liabilities                            |     |           |    219,558 |   |     |           |  (18,890 | ) |     |               |          — |   |     |         |    200,668 |   |
|                                                                                |     |         W |    104,800 |   |     |           | (185,808 | ) |     |               |   (307,868 | ) |     |         |   (388,876 | ) |

| (*1) | Deferred tax assets from overseas subsidiaries are decreased byW650million due to foreign exchange rate movements. |

| (*2) | The Group does not recognize deferred tax assets and liabilities related to global minimum tax laws by applying the temporary exception provision for deferred tax in IAS 12. |

<div align='center'>F-29 9</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 45. | Income tax expense (continued) |

|                                                                                |     |      2024 |            |   |     |           |          |   |     |               |          |   |     |