Shinhan advises Korean residents of Japan on investing at Mindan 80th anniversary event
In short
Shinhan Financial Group said on October 8 that it ran a dedicated booth for Korean residents of Japan at the 80th anniversary ceremony of the Korean Residents Union in Japan (Mindan), held on October 7 at Lotte Hotel World in Jamsil, Seoul. Shinhan Bank and Shinhan Securities explained account-opening procedures by nationality and residency status and how to deposit and remit investment funds. It was the first time Mindan's anniversary ceremony was held in South Korea rather than Japan.
Read the full story 2 min read
Shinhan Financial Group said on October 8 that it ran a dedicated booth for Korean residents of Japan at the 80th anniversary ceremony of the Korean Residents Union in Japan (Mindan), held on October 7 at Lotte Hotel World in Jamsil, Seoul. According to the reports, it was the first time Mindan's anniversary ceremony had been held in South Korea rather than Japan. [ 1 , 2 , 3 ]
At the booth, Shinhan Bank and Shinhan Securities explained to Korean residents of Japan the procedures for opening bank and securities accounts depending on nationality and residency status, and how to deposit and remit domestic and overseas investment funds. Newsis described this as consultation on investing in the South Korean financial market. Dong-A Ilbo reported that Shinhan also provided materials on the group's growth, main business results and plans to raise its corporate value, and introduced its mid- to long-term growth direction; Seoul Economic Daily also said the group shared that growth direction. [ 1 , 2 , 3 ]
A Shinhan Financial official said the booth was set up because interest in the domestic financial market and in Shinhan Financial has grown among Korean residents of Japan, including younger generations, and that the group would strengthen communication so that its ties with them carry on to future generations. In the versions reported by Dong-A Ilbo and Seoul Economic Daily, the official also said the group would carry on its founding spirit of "geumyung boguk". [ 1 , 2 , 3 ]
Shinhan Financial traces its origins to Shinhan Bank, founded in 1982 by 341 Korean-Japanese small shareholders; Newsis and Seoul Economic Daily put its starting capital at 25 billion won. Dong-A Ilbo said the shareholders wanted to help the economic development of their homeland. The group's founding philosophy, "geumyung boguk" (金融報國), means contributing to the development of the country and society through finance. Seoul Economic Daily said the ties between Shinhan and Korean residents of Japan had lasted 44 years. [ 1 , 2 , 3 ]
Seoul Economic Daily reported that Mindan was founded in 1946. Dong-A Ilbo and Seoul Economic Daily said Mindan has supported South Korea in difficult times, sending student volunteer soldiers during the Korean War and running a campaign to remit money to the homeland during the financial crisis, and has worked to advance the rights of Korean residents in Japan. [ 2 , 3 ]
Why it matters
The group said interest in South Korea's financial market and in Shinhan has grown among Korean residents of Japan, including younger people, and the booth was aimed at making it easier for them to open accounts and invest. Shinhan was founded in 1982 by Korean-Japanese shareholders, so the outreach ties to the group's origins; the coverage comes from business outlets relaying the company's announcement.
Key facts
- Mindan's 80th anniversary ceremony was held on October 7 at Lotte Hotel World in Jamsil, Seoul. [ 1 , 2 , 3 ]
- It was the first time Mindan's anniversary ceremony was held in South Korea rather than Japan. [ 1 , 2 , 3 ]
- Shinhan Financial Group set up a dedicated booth for Korean residents of Japan at the ceremony. [ 1 , 2 , 3 ]
- Shinhan Bank and Shinhan Securities explained account-opening procedures depending on nationality and residency status, and how to deposit and remit investment funds. [ 1 , 2 , 3 ]
- Shinhan began in 1982 with Shinhan Bank, founded by 341 Korean-Japanese small shareholders. [ 1 , 2 , 3 ]
- Shinhan Bank's starting capital was 25 billion won. [ 1 , 3 ]
- Shinhan's founding philosophy is "geumyung boguk" (金融報國), contributing to the country and society through finance. [ 1 , 2 , 3 ]
Confirmed by several sources
- Shinhan Financial Group ran a dedicated booth for Korean residents of Japan at Mindan's 80th anniversary ceremony on October 7 at Lotte Hotel World in Jamsil, Seoul. [ 1 , 2 , 3 ]
- The ceremony was the first Mindan anniversary ceremony held in South Korea rather than Japan. [ 1 , 2 , 3 ]
- Shinhan Bank and Shinhan Securities explained account opening by nationality and residency status and how to deposit and remit investment funds. [ 1 , 2 , 3 ]
- Shinhan was founded in 1982 by 341 Korean-Japanese small shareholders, with 25 billion won in capital. [ 1 , 3 ]
- Shinhan introduced its mid- to long-term growth direction to Korean residents of Japan at the event. [ 2 , 3 ]
- Mindan sent student volunteer soldiers during the Korean War and ran a campaign to remit money to South Korea during the financial crisis. [ 2 , 3 ]
Still unclear
- Mindan was founded in 1946. Only Seoul Economic Daily gives the founding year.
- Shinhan handed out materials on its growth, main business results and corporate value enhancement plans. Only Dong-A Ilbo reports the materials; no details of the plans are given.
- How many people visited the booth or received consultations. None of the reports give attendance or consultation figures.
- Who the Shinhan official quoted is. All reports attribute the comments to an unnamed Shinhan Financial official.
What local media are saying
Timeline, local time
- October 8: Newsis reports that Shinhan Financial held financial consultations for Korean residents of Japan at Mindan's 80th anniversary ceremony the previous day. [ 1 ]
- October 8: Dong-A Ilbo reports the booth and Shinhan's presentation of its growth and corporate value plans. [ 2 ]
- October 8: Seoul Economic Daily reports the booth and Shinhan's 44-year ties with Korean residents of Japan. [ 3 ]