[Sponsored Report] Shinhan works to boost CSR efforts

Earlier this month, the chairman and CEOs of Shinhan Financial Group gathered in Children’s Grand Park to build a playground suitable for kids with disabilities. [SHINHAN FINANCIAL GROUP]

Shinhan Financial Group (SFG) has upped its corporate social responsibility (CSR) efforts by creating a social responsibility management council and introducing CSR as a criterion for its subsidiaries’ management evaluations.

In 2015, the group established a social responsibility management council to develop CSR strategies and ensure that they are implemented across the board. The meetings will be attended by the CEOs of all of its subsidiaries.

Recently, SFG also held its 2016 Volunteer Service Grand Festival, a 60-day event that takes place through April and May to provide members of the local community with practical aid. This year, Shinhan plans to set out more intensive programs to support the socially disadvantaged, including a project to create playgrounds that are inclusive for those with disabilities.

On May 10, Chairman Han Dong-woo and the CEOs of Shinhan subsidiaries visited Children’s Grand Park in Gwangjin, Seoul to participate in the inclusive playground project. The program aims to provide an environment in which children can harmonize regardless of their ability status.

The group’s programs are focused on promoting culture, welfare and environmental protection. Its “Cultural Asset Love” campaign and “Traditional Culture Experience” program are just a few of its efforts to preserve Korea’s traditional values and promote the arts in local communities.

Since 2009, Shinhan Bank has held the “Shinhan Music Awards” to discover and support the nation’s budding musicians. Winners are selected in four categories: violin, piano, cello and singing. The prize includes a scholarship of 16 million won ($13,544) and the opportunity to receive training at a prestigious music school abroad.

Furthermore, SFG has raised environmental awareness through programs such as its annual green photography contest. In 2015, it became the first financial institution to be selected as a member of the Carbon Management Honor’s Club by Carbon Disclosure Project (CDP) Korea. CDP Korea, the local branch of the global business sustainability index, awarded the group 98 evaluation points and an “A” grade.

Shinhan’s social contribution activities also extend to the education sector. It offers lessons on finance and economics for different age groups, such as “Shinhan Children - Finance Experience Classroom” for elementary school students, “Arumin Finance Expedition” for middle school students and “Shinhan Happy Silver Finance Classroom” for the elderly.

BY PARK HYE-MI [park.hyemi@joongang.co.kr]