Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 607

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 607
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 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                                                           |     | Net assets 
        (a) |           |     | Ownership 
 (%)       
 (b)       |        |     | Interests  
 in the net 
 assets     
 (a)*(b)    |         |     | Intra-group  
 transactions |   |     | Others |         |     | Carrying 
 amount   |         |
| Shinhan-Eco Venture Fund 2nd                                        |     |          W |     9,893 |     |           |  40.00 |     |            |   3,957 |     |              | — |     |        |       — |     |          |   3,957 |
| Heungkuk-Shinhan the1st Visionary Technology Investment Trust no. 1 |     |            |    16,243 |     |           |  40.00 |     |            |   6,497 |     |              | — |     |        |       — |     |          |   6,497 |
| Hantoo Shinhan Lake K-beauty Technology Investment Trust            |     |            |    44,701 |     |           |  22.96 |     |            |  10,264 |     |              | — |     |        |       — |     |          |  10,264 |
| Shinhan HB Wellness 1st Investment Trust                            |     |            |    10,971 |     |           |  48.54 |     |            |   5,326 |     |              | — |     |        |       — |     |          |   5,326 |
| Korea real Asset Fund No.3                                          |     |            |    57,933 |     |           |  28.57 |     |            |  16,552 |     |              | — |     |        |       — |     |          |  16,552 |
| PineStreet Global Corporate FoF