Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 195

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 195
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 less than 50% of aggregate amount of such financial holding company’s assets based on the latest balance sheet. A financial holding company is prohibited from engaging in any profit-making businesses other than controlling the management of its subsidiaries and certain ancillary businesses as prescribed in the Presidential Decree of the Financial Holding Companies Act which includes the following businesses:

| • |     | financially supporting its subsidiaries and the subsidiaries of its subsidiaries (the “direct and indirect subsidiaries”), including lending properties with economic values such as monies and securities, guaranteeing obligation performance and other direct or indirect transactions involving transactional credit risk; |

| • |     | raising capital necessary for the investment in subsidiaries or providing financial support to its direct and indirect subsidiaries; |

| • |     | supporting the business of its direct and indirect subsidiaries for the joint development and marketing of new products; |

| • |     | supporting the operations of its direct and indirect subsidiaries by providing access to data processing, legal and accounting resources; and |

| • |     | pursuing any other activities exempted from authorization, permission or approval under the applicable laws and regulations. |

The Financial Holding Companies Act requires every financial holding company (other than any financial holding company that is controlled by any other financial holding company) or its subsidiaries to obtain the prior approval from the Financial Services Commission before acquiring control of another company or to file with the Financial Services Commission a report within thirty days after acquiring such control. Permission to liquidate or to merge with any other company must be obtained in advance from the Financial Services Commission. A financial holding company must report to the Financial Services Commission regarding certain events including:

| • |     | when there is a change of its largest shareholder; |

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| • |     | when there is a change of principal shareholders of a bank holding company; |

| • |     | when the shareholding of the largest shareholder or a principal shareholder as prescribed under the Financial Holding Companies Act or a person who is in a special relationship with such largest or principal shareholder (as defined under the Presidential Decree of the Financial Holding Companies Act) changes by 1% or more of the total issued and outstanding voting shares of the financial holding company; |

| • |     | when there is a change of its name; |

| • |     | when there is a cause for dissolution; and |

| • |     | when it or its subsidiary ceases to control any of its respective direct and indirect subsidiaries by disposing of the shares of such direct and indirect subsidiaries. |

Capital Adequacy The Financial Holding