Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 133

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 133
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 was classified as accruing), was under restructuring. As of such date, 84

the total amount under restructuring consisted of W29 billion related to workouts, W38 billion related to recovery proceedings, and W47 billion related to others, principally consisting of the credit rehabilitation program subject to corporate turnaround or reorganization, which is based on voluntary agreements between the relevant parties excluding workout and recovery proceedings. Loans in the process of workout, recovery proceedings or the like are reported as nonaccrual loans on Shinhan Bank’s statements of financial position since generally, they are past due by more than 90 days and interest does not accrue on such loans. Restructured loans are reported as either loans or securities on Shinhan Bank’s statements of financial position depending on the type of instrument it receives as a result of the restructuring. Workout The Corporate Restructuring Promotion Act was enacted on August 3, 2007 (expired on December 31, 2010), May 19, 2011 (expired on December 31, 2013), January 1, 2014 (expired on December 31, 2015), March 18, 2016 (expired on June 30, 2018), October 16, 2018 (expired on October 15, 2023) and December 26, 2023 (to be expired on December 25, 2026). The new Corporate Restructuring Promotion Act enacted and implemented on December 26, 2023 is hereinafter referred to as the “CRPA”. If the ‘main Creditor Financial Institution’ of a Failing Company (defined below) provided notice of convening a Creditor Committee (defined below) on or before December 25, 2026, any proceedings commenced by such Creditor Committee will remain subject to the CRPA even after December 25, 2026 unless and until such proceedings are completed or discontinued. The following is a summary of the key provisions of the CRPA. The CRPA applies to a financial creditor (the “Financial Creditor”) who has financial claims against a debtor company by ‘providing credit’ to such debtor company or other third parties. “Provision of Credit” is defined in the CRPA as any transaction determined by the Financial Supervisory Commission to fall under any of the following:

| • |     | loans; |

| • |     | purchase of promissory notes and debentures or bonds; |

| • |