Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 347

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 347
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 a securities company to broker and/or deal in such newly issued shares in order to ensure that they are properly distributed. In the event certain shareholder forfeit their right to subscribe to newly issued shares, the company may allot the forfeited shares to a third party under certain conditions, including in relation to the purchase price of such shares, although in principle, the company must withdraw the forfeited shares. Under the Korean Commercial Code, when a company issues new shares by way of allotment to a third party, such company must notify its stockholders or make public notice of the conditions and other details of such new shares not less than two weeks prior to the relevant subscription payment date. Under the Financial Investment Services and Capital Markets Act, however, a listed company may substitute such notification or public notice by disclosing the material fact in a report publicly filed with the listing authorities.Under the Financial Investment Services and Capital Markets Act, members of a company’s employee stock ownership association, whether or not they are shareholders, have a preemptive right, subject to certain exceptions, to subscribe for up to 20% of the shares publicly offered pursuant to the Financial Investment Services and Capital Markets Act. However, this right is exercisable only to the extent that the total number of shares so acquired and held by such members does not exceed 20% of the total number of shares to be newly issued and shares then outstanding. As of December 31, 2024, the employee stock ownership association owned 24,861,162 shares, or 4.9%, of our common stock.Corporate Value Up PlanIn February 2024, the Government announced a corporatevalue-upsupport plan for listed companies, encouraging voluntary disclosures with the aim of improving valuations. In response, upon discussion among our board of directions, we announced our Corporate Value Up Plan in July 2024, which includes specific goals through 2027 of improving return on equity and implementing shareholder return policies focused on share buybacks and cancellations. We plan to continue engaging with our shareholders and other market participants253
**and strive to enhance our corporate value. However, such goals are subject to a number of factors and uncertainties, many of which are beyond our control, and no assurance can be given that we will be able to achieve such goals in a timely manner or at all.

General Meeting of Shareholders

There are two types of general meetings of shareholders: annual general meetings and extraordinary general meetings. We are required to convene our annual general meeting within three months after the end of each fiscal year