Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 671

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 671
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 |   |     |            | (1,033,014 | ) |     |         | (3,173,553 | ) |     |            |  837,795 |   |     |                   |    739,357 |   |     |            | (195,219 | ) |
|                                                                                               |     | W               | (1,373,237 | ) |     |            |    298,784 |   |     |         | (1,174,665 | ) |     |            |  424,679 |   |     |                   | (2,547,902 | ) |     |            |  723,463 |   |

<div align='center'>F- 301</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) |

|                                                                              |     | 2023 |         |     | 2024 |         |
| Temporary differences related to Shinhan EZ General Insurance Co., Ltd. (*1) |     |    W | 112,293 |     |      | 109,731 |
| Shinhan AI Co., Ltd. (*2)                                                    |     |      |      13 |     |      |       — |
|                                                                              |     |      | 112,306 |     |      | 109,731 |

| (*1) | Shinhan EZ General Insurance Co., Ltd., a subsidiary of the Group, suffered a net loss for the current period, etc. As of the end of 2024, deferred corporate tax assets were not recognized as it was determined that the temporary difference to be deducted in excess of the temporary difference to be added and the tax loss were not feasible. |

| (*2) | Shinhan AI Co., Ltd, a subsidiary of the Group, did not recognize deferred corporate tax assets for temporary differences in consideration of liquidation in 2024. |

| (*3) | The expiration date of unused carried tax losses not recognized as deferred tax assets as of the end of the reporting period is as follows: |

|                          |     | Less than 
 1 year    |       |     | 1~2   
 years |       |     | 2~3   
 years |       |     | More than3 years |        |