Shinhan Financial expands partnership with Vietnam's Vingroup
Shinhan Financial Group is expanding its partnership with Vietnam’s Vingroup beyond motor vehicle finance into capital markets, it said Sunday. Shinhan Financial Chairman Jin Ok-dong met with Vingroup executives Thursday at Shinhan Bank Vietnam’s headquarters in Ho Chi Minh City to discuss new areas of cooperation. Vingroup, the Southeast Asian country’s largest private company by market…
Shinhan Financial Group is broadening its collaboration with Vietnam's Vingroup, moving beyond motor vehicle finance into capital markets, the company announced on Sunday. During a meeting on Thursday at Shinhan Bank Vietnam's headquarters in Ho Chi Minh City, Shinhan Financial Chairman Jin Ok-dong discussed potential areas of cooperation with Vingroup executives.
Vingroup, the largest private company by market capitalization in Southeast Asia, boasts diverse interests including real estate and electric vehicles. Shinhan's partnership with the group thus far has primarily focused on vehicle finance, especially for VinFast, Vingroup's electric vehicle (EV) subsidiary. Since 2024, Shinhan Bank Vietnam has extended a total of $100 million in loans to VinFast customers.
In the first half of this year, Shinhan Vietnam Finance financed approximately 14,000 VinFast motorcycles, with total financing amounting to 15 billion won, equivalent to $10.9 million. Moving forward, the two entities intend to explore capital market opportunities, such as equity and bond financing through Shinhan Securities Vietnam.
Additionally, Shinhan Bank Vietnam and Shinhan Vietnam Finance will expand their vehicle finance business.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Shinhan Financial expands partnership with Vietnam's Vingroup koreatimes.co.kr
