Shinhan Premier: unified wealth at Korea's first privately founded bank

Concept

Shinhan Premier is the unified wealth brand of Shinhan Financial Group, launched in July 2024. It merges the private-banking channels of Shinhan Bank and Shinhan Securities: combined branches host PBs from both entities side by side — a model Shinhan pioneered in Korea in 2011. Governance sits at group level: since January 2026 a single WM chief ("Shinhan Premier 총괄", Jung Yong-wook) straddles bank and securities.

The channel ladder runs: Shinhan Premier Lounge (mass-affluent, ≥ KRW 100m) → Premier PWM centres (≥ KRW 1bn in group financial assets; ~21–25 centres) → Shinhan Premier Family Office (≥ KRW 10bn; 4 centres: Banpo, City Hall, Cheongdam, Gwanghwamun — the original SFC of February 2022 was the first branded family office by a Korean bank) and Premier PIB (≥ KRW 10bn; PB+IB for business owners, launched 2019; Gangnam and Yeouido). For UHNW clients, Shinhan Premier Pathfinder convenes a ~100-expert advisory panel.

Scale: Shinhan Premier managed customer assets rose from KRW 171.7tn (end-2023) to KRW 213.9tn (end-2025) and KRW 278.6tn (end-June 2026), according to official publications and published reports; clients with ≥ KRW 1bn numbered 29,353 (June 2026); family office + PIB client assets ≈ KRW 35tn (end-2025), according to published reports.

History and evolution

• 7 July 1982 — Shinhan Bank founded, Korea's first privately capitalised bank (capital from 341 ethnic-Korean businesspeople in Japan).
• September 2001 — Shinhan Financial Group established, Korea's first private financial holding company.
• August 2003 — acquired 80% of Chohung Bank (founded 1897).
• 1 April 2006 — merger completed; Chohung, the surviving legal entity, was renamed Shinhan Bank.
• 2011 — Korea's first combined bank–securities PWM branches.
• 2019 — PIB centres launched.
• February 2022 — SFC opened, the first branded family office of a Korean bank.
• July 2024 — Shinhan Premier brand launched.
• 2025–26 — "One WM" strategy rolled out.
• October 2026 — first Korean financial group to establish a holding company in Indonesia, according to published reports.

Regulation

Shinhan Bank Co., Ltd. and Shinhan Securities Co., Ltd. (renamed from Shinhan Investment Corp. in October 2022) are supervised by the FSC/FSS; bank deposits carry KDIC protection. Asset management sits with Shinhan Asset Management (SFG bought out BNP Paribas' 35% JV stake in January 2021). The parent, Shinhan Financial Group, is listed on the KRX and as NYSE ADS. There is no confirmed offshore PB booking centre: Shinhan Asia Ltd. (Hong Kong) is corporate-financing focused; a 2008 plan to offer PB in Hong Kong was announced but its current status is unverified.

Compliance record: in the Lime scandal (the bank sold ~KRW 276.9bn of Lime funds) the FSC in July 2022 imposed a three-month partial suspension of new private-fund sales on Shinhan Bank plus a KRW 5.71bn fine; the FSS sanctioned executives in 2021 (cautionary warning to then-bank-CEO Jin); the FSC in November 2021 imposed a six-month partial suspension plus KRW 1.8bn on Shinhan Securities; investor settlements were substantially completed in 2022. Hong Kong H-index ELS: voluntary compensation of ~KRW 1.34tn industry-wide (~96% acceptance); the FSS pre-notified large fines (November 2025), and the sanctions committee cut the combined total to ~KRW 600bn (June 2026) — Shinhan recognised KRW184.6bn of FY2025 expenses for ELS and LTV together: KRW152.7bn for ELS and KRW31.9bn for LTV. Its 3 March 2026 shareholder-meeting notice describes the ELS amount as an accounting estimate before completion of SFC/FSC deliberation, rather than a final individual fine. The FSC’s 4 March 2020 DLF decision concerns Hana and Woori; its 16 February 2022 Discovery decision concerns Discovery Asset Management and Industrial Bank of Korea. Shinhan is not an addressee of those specific decisions.

Source of wealth

Typical clients are business owners (the PIB focus), professionals, executives and multi-generational families; the founding story carries the ethnic-Korean diaspora heritage. See source of funds.

Who it serves

Affluent Koreans across the ladder: mass-affluent (Lounge), HNW (PWM centres), UHNW families and business owners (Family Office, PIB). As of June 2026, 29,353 clients held ≥ KRW 1bn with the group.

Services

Advisory and portfolio management by joint bank+securities teams; discretionary-style products via bank trusts and securities wrap accounts (Korean banks cannot run DPM directly); will-substitute trusts (both arms); family office (succession, governance, tax, real estate, club-deal investments, concierge); PIB (IPO/M&A advisory for owners); non-financial concierge, art advisory, "Premier Hall" culture spaces; digital premium membership "Shinhan Premier MyPB" and the New Super SOL app (June 2026).

Entities

Strengths

• Unified bank+securities platform: PBs of both entities in one centre.
• Full segment ladder from KRW 100m to KRW 10bn+.
• Scale: KRW 278.6tn of Premier assets (June 2026); Shinhan Bank ranked #1 by net income among Korean banks in 2024 and has been a top performer since.
• Strong family office and PIB franchises for business owners.

Where it falls short

• Clients outside Korea: no confirmed offshore PB booking centre (Hong Kong status unverified).
• Those needing direct bank-run DPM: Korean banks cannot run discretionary mandates directly.
• Investors sensitive to compliance history (Lime, ELS).

Shinhan Premier remains the flagship of Korean private banking: group FY2025 net income attributable came to KRW 4.97tn (+11.7%), total assets ~KRW 786tn; Shinhan Bank FY2025 net income KRW 3.77tn. Group Chairman & CEO Jin Ok-dong (in office since 23 March 2023) was re-elected in March 2026 for a second three-year term; Shinhan Bank CEO Jung Sang-hyuk (since 15 February 2023) was reappointed to end-2026; Shinhan Securities CEO Lee Sun-hoon has served since January 2025.