Korean financial provider Shinhan Bank held high-level talks in London on Tuesday with the UK Foreign, Commonwealth & Development Office to explore ways to strengthen investment cooperation between the public and private sectors.
Shinhan Bank CEO Jung Sang-hyuk met with Catherine West, parliamentary under-secretary of state for the FCDO’s Asia-Pacific region, to discuss future investment strategies aligned with the UK’s Modern Industrial Strategy and 10-Year Infrastructure Strategy.
The meeting builds on a memorandum of understanding signed with the UK Department for Business and Trade in November 2023. Since then, Shinhan Bank has invested 860 billion won ($627.5 million) in the UK.
The bank now plans to expand its total investment to 3.7 trillion won by 2030, further cementing its role as a leading example of public-private financial collaboration.
During a relocation ceremony for Shinhan Bank’s London branch on Monday, the bank signed an additional MOU with UK Minister of State for Investment Poppy Gustafson to facilitate the expanded investment plan.
The bank aims to deepen industrial and policy ties between the two nations through strategic financial engagement.
“We aim to support a diverse range of industries in the UK while accelerating Shinhan’s global competitiveness,” a Shinhan Bank official stated.
“Our London branch will serve as a key financial hub across Europe, the Middle East and Africa, fulfilling a crucial bridging role in the EMEA region.”
spark@heraldcorp.com
