SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Month of January 2004
SHINHAN FINANCIAL GROUP CO., LTD.
(Translation of registrant's name into English)
120, 2-Ga, Taepyung-Ro, Jung-Gu, Seoul 100-102, Korea
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
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Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): _______
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): _______
Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No x
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-_______.
PARTICIPATION IN LG CARD RESCUE PLAN
On January 9, 2004, LG Group and creditors of LG Card reached an agreement
on the "Collective Management Plan for LG Card (Rescue Plan)." Shinhan Bank, our
wholly owned banking subsidiary, is among the creditor banks of LG Card. Shinhan
Bank held a meeting of board of directors on January 13, 2004 to approve the
participation of the rescue plan. According to the plan, Shinhan Bank will
conduct debt-to-equity swap amounting to KRW 81.3 billion from its previous
exposure and provide additional loan of KRW 81.0 billion as liquidity support,
which will be converted into equity later on. The detailed schedule for the
debt-to-equity swap will be disclosed as soon as it is determined.
CHANGE IN POSITIONS OF EXECUTIVE OFFICERS
In January 2004, pursuant to a resolution of our Executive Committee
meeting, there was a change in positions and titles of our executive officers as
follows:
NAME POSITION
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Bhang Gil Choi Senior Executive Vice President of Integration Coordination Team I and II (taking charge
of Chohung Bank related issues)
Chil Sun Hong Senior Executive Vice President of Subsidiary Management Team II, Public Relations Team,
and Audit & Compliance Team
Hee Soo Kim Senior Executive Vice President of Subsidiary Management Team I and Integration
Coordination Team I
Byung Jae Cho Chief Financial Officer and Senior Executive Vice President of Planning & Financial
Management Team and Investor Relations Team
Lee, Baek Soon Senior Executive Vice President of General Service Team, Information & Technology
Planning Team and Integration Coordination Team II
As noted above, Mr. Hee Soo Kim, and Mr. Baek Soon Lee were newly appointed
as senior executive vice presidents. Mr. Min Ky Han and Mr. Youn Soo Song, our
previous senior executive vice presidents resigned the position on January 13,
2004, because each was appointed as deputy president of Shinhan Bank, our wholly
owned banking subsidiary pursuant to a resolution of the board of directors of
Shinhan Bank.
Under the Specialized Credit Financial Business Act of Korea, which
regulates and governs credit card business, a person who is an officer or an
employee of the concerned company or its affiliate shall be prohibited from
becoming an outside director of a credit card company. Consequently, Mr. Min Ky
Han, who has been serving as outside director of Shinhan Card, our wholly owned
credit card subsidiary, resigned the position before his appointment of deputy
president of Shinhan Bank.
Mr. Youn Soo Song, who has been serving as outside director and audit
committee member of Shinhan Bank also resigned the position because he was
appointed as deputy president of the bank. Shinhan Bank appointed Mr. Park Kyung
Seo as a new member of the audit committee through a resolution of its board of
directors on January 13, 2004.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SHINHAN FINANCIAL GROUP CO., LTD.
By /s/ Byung Jae Cho
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Name: Byung Jae Cho
Title: Chief Financial Officer
Date : January 14, 2004