Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 600

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 600
---
ehan No.36 Office Asset Management Company                                  |     |            |  46,790 |     |           | 48.05 |     |            | 22,482 |     |              | — |     |        | — |     |          | 22,482 |
| Rhinos Premier Mezzanine Private Investment Fund No.1                         |     |            |  10,944 |     |           | 27.93 |     |            |  3,056 |     |              | — |     |        | — |     |          |  3,056 |
| SH Real Estate Loan Investment Type Private Real Estate Investment Trust No.2 |     |            | 211,132 |     |           | 29.73 |     |            | 62,769 |     |              | — |     |        | — |     |          | 62,769 |

<div align='center'>F-2 1 5</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) |

|                                                                            |     |       2023 |         |     |           |       |     |            |        |     |              |   |     |        |      |   |     |          |        |
| Investees                                                                  |     | Net assets 
        (a) |         |     | Ownership 
 (%)       
 (b)       |       |     | Interests  
 in the net 
 assets     
 (a)*(b)    |        |     | Intra-group  
 transactions |   |     | Others |      |   |     | Carrying 
 amount   |        |
| Shinhan JigaeNamsan Road Private Special Asset Investment Trust            |     |          W | 166,737 |     |           | 24.85 |     |            | 41,434 |     |              | — |     |        |    — |   |     |          | 41,434 |
| SKS-Yozma Fund No.1                                                        |     |            |  11,574 |     |           | 29.85 |     |            |  3,455 |     |              | — |     |        |    — |   |     |