# Shinhan Premier: unified wealth at Korea's first privately founded bank > Shinhan Premier unifies Shinhan Bank and Shinhan Securities wealth: tiers at KRW 100m/1bn/10bn, AUM KRW 278.6tn (mid-2026), KDIC deposit cover KRW 100m. Author: Alena Peteneva — Lawyer, Family Office (https://wiki.private.law/en/authors/dunaeva) Last modified: 2026-10-20T13:36:00.000Z Canonical: https://wiki.private.law/en/shinhan-private Publisher: wiki.private.law (https://wiki.private.law) Version: 1b23350bcfcd3c5de5a784f5d2f4a6ad5052dd6a678513a48173f3f87f10ecb3 Cite as: Shinhan Premier: unified wealth at Korea's first privately founded bank. wiki.private.law. https://wiki.private.law/en/shinhan-private. Version 1b23350bcfcd3c5de5a784f5d2f4a6ad5052dd6a678513a48173f3f87f10ecb3. Topics: banking Jurisdictions: korea Functional tags: private-banking Product tags: bank, wealth-planning, investment, trust, estate-planning, family-office Semantic tags: private-banking, bank, wealth-planning, investment, trust, estate-planning, family-office --- ## 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. > 🍓 Deposit protection: KDIC covers KRW 100m per depositor per institution, effective 1 September 2025 (the first increase since 2001); retirement-pension assets are covered separately; funds and ELS are NOT covered, according to official information. ## 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](https://www.shinhangroup.com/en/ir/finance/investorPresentations/detail/32336) for ELS and LTV together: KRW152.7bn for ELS and KRW31.9bn for LTV. Its [3 March 2026 shareholder-meeting notice](https://www.sec.gov/Archives/edgar/data/1263043/000119312526086590/ck0001263043-form_6k_260303_.pdf) 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](https://www.fsc.go.kr/eng/pr010101/22312) concerns Hana and Woori; its [16 February 2022 Discovery decision](https://www.fsc.go.kr/no010101/77380) 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](https://wiki.private.law/source-of-funds). > 💡 Entry thresholds: Premier Lounge ≥ KRW 100m; Premier PWM ≥ KRW 1bn; Family Office and PIB ≥ KRW 10bn in group financial assets. ## 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 | Jurisdiction | Legal entity | Form and supervision | Role | | --- | --- | --- | --- | | South Korea | Shinhan Bank Co., Ltd. | Bank; FSC/FSS; KDIC-insured | Core PB, trusts, deposits | | South Korea | Shinhan Securities Co., Ltd. | Broker; FSC/FSS | Investments, wrap accounts, IB in PIB | | South Korea | Shinhan Asset Management | Asset manager; FSC/FSS | Funds and managed strategies | | South Korea | Shinhan Financial Group | Holding; KRX + NYSE ADS | One WM strategy, Premier brand | | Hong Kong | Shinhan Asia Ltd. | Corporate financing | PB status unverified | ## 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. ## Q/A ### What is Shinhan Premier? The unified wealth brand of Shinhan Financial Group, launched in July 2024: PBs of Shinhan Bank and Shinhan Securities work side by side in combined centres, a model in place since 2011. ### What are the entry thresholds? Premier Lounge from KRW 100m; Premier PWM from KRW 1bn in group financial assets; Family Office and PIB from KRW 10bn. ### Are deposits at Shinhan Bank protected? Yes: KDIC covers KRW 100m per depositor per institution since 1 September 2025; retirement-pension assets are covered separately. Funds and ELS are not covered. ### Does Shinhan offer offshore private banking? There is no confirmed offshore PB booking centre: Shinhan Asia Ltd. in Hong Kong focuses on corporate financing; a 2008 plan to offer PB in Hong Kong was announced but its current status is unverified. ### What compliance incidents has the group faced? The Lime fund scandal (2021–22 suspensions and fines for the bank and the securities arm; settlements largely completed in 2022) and the Hong Kong H-index ELS compensation case, where the final Shinhan-specific fine remains pending. --- ## Similar articles - [British Atlantic Bank (NodaBank): Accounts, Deposits and Lending](https://wiki.private.law/en/nodabank) - [Hana Private Banking: Korea's first private banking service](https://wiki.private.law/en/hana-private) - [KB Private Banking: Gold&Wise and the FIRST at Korea's largest financial group](https://wiki.private.law/en/kb-private) - [Woori Private Banking: the Two Chairs franchise of Korea's oldest bank](https://wiki.private.law/en/woori-private) - [ICBC Private Banking: private banking at the world's largest bank](https://wiki.private.law/en/icbc-private-banking) - [Maybank Private: private banking at Malaysia's largest bank](https://wiki.private.law/en/maybank-private) --- Source: wiki.private.law — the private.law legal knowledge base. 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