Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 558

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 558
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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                                                                     |     | Beginning 
   balance |        |     | Investment 
 and        
 dividend   |        |   |     | Equity 
 method 
 income 
 (loss) |        |   |     | Change in     
 other         
 comprehensive 
 income        |   |     | Impairment 
 loss       |   |     | Ending  
 balance |        |
| Korea Omega-Shinhan Project Fund I                                            |     |         W | 10,022 |     |            |      — |   |     |        |  1,608 |   |     |               | — |     |            | — |     |         | 11,630 |
| Samsung SRA Real Estate Professional Private 45[FoFs]                         |     |           | 21,650 |     |            |  8,487 |   |     |        |  1,295 |   |     |               | — |     |            | — |     |         | 31,432 |
| IBK Global New Renewable Energy Special Asset Professional Private2           |     |           | 33,412 |     |            | (2,303 | ) |     |        |  1,187 |   |     |               | — |     |            | — |     |         | 32,296 |
| VS Cornerstone Fund                                                           |     |           |  3,335 |     |            |      — |   |     |        |    (55 | ) |     |               | — |     |            | — |     |         |  3,280 |
| Aone Mezzanine Opportunity Professional Private                               |     |           |  5,009 |     |            | (5,072 | ) |     |        |     63 |   |     |               | — |     |            | — |     |         |      — |
| NH-Amundi US Infrastructure Private Fund2