Shinhan Financial shortlists four candidates for next leadership

South Korea’s Shinhan Financial Group announced on Nov. 18 that it has narrowed its shortlist for the next chairman to four candidates, including incumbent Chairman Jin Ok-dong.

Chairman Jin is seeking a second term as he competes against senior executives within the group, including Shinhan Bank CEO Jung Sang-hyuk and Shinhan Investment & Securities CEO Lee Sun-hoon.

Shinhan Financial’s chairman recommendation committee confirmed the final shortlist as part of the group’s succession process.

The committee, composed of five outside directors, began procedures at the end of September and has spent the past two months evaluating more than 20 potential candidates.

The committee will convene again on Dec. 4 to conduct presentations and interviews with each shortlisted candidate before selecting a final nominee.

The recommended candidate will undergo board deliberation and will then be formally appointed at the group’s annual shareholders’ meeting in March 2026.

The new chairman’s term will run through March 2029.

The committee said that the process adhered strictly to governance best practices and the group’s succession guidelines.

Other major financial groups are expected to finalize their own leadership succession processes in the coming weeks.

Woori Financial Group is in the final stages of forming its longlist, while BNK Financial Group is currently reviewing seven candidates announced earlier this month.

Both Woori Chairman Lim Jong-ryong and BNK Chairman Bin Dae-in are expected to seek another term, setting the stage for competition with incumbent and former CEOs of their respective affiliates.