Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 591

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 591
---
 40,988 |     |           |  5,671 |     |           |  (1,819 | ) |     |                  |  (2,852 | ) |     |             | — |     |             |  (2,852 | ) |
| KIWOOM Real estate private placement fund for normal investors No. 31         |     |       |  13,403 |     |           |     17 |     |           |   1,669 |   |     |                  |   1,604 |   |     |             | — |     |             |   1,604 |   |

<div align='center'>F- 20 6</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 16. | Investments in associates (continued) |

|                                                                            |     |  2024 |        |     |           |        |     |           |       |   |     |                  |        |   |     |             |   |     |             |        |   |
| Investees                                                                  |     | Asset |        |     | Liability |        |     | Operating 
 revenue   |       |   |     | Net profit(loss) |        |   |     | Other       
 comprehen-  
 sive income 
 (loss)      |   |     | Total       
 comprehen-  
 sive income 
 (loss)      |        |   |
| RIFA Real estate private placement fund for normal investoes No. 51        |     |     W | 13,461 |     |           |     33 |     |           |   153 |   |     |                  |    140 |   |     |             | — |     |             |    140 |   |
| Shinhan-Kunicorn first Fund                                                |     |       | 24,603 |     |           |      7 |     |           |     7 |   |     |                  |   (527 | ) |     |             | — |     |             |   (527 | ) |
| Shinhan-Quantum Startup Fund                                               |     |       | 11,519 |     |           |      — |     |           |    61 |   |     |                  |   (246