Edgar Filing: SHINHAN FINANCIAL GROUP CO LTD

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 December 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
----- -----

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
----- -----

If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-_______.

INVESTMENT IN HYUNDAI MOTOR COMPANY AND OTHER COMPANIES BY SHINHAN BANK
On December 22, 2004, Shinhan Bank, our wholly owned bank subsidiary,
decided to purchase 30,000 shares of common stock or 0.05% of Hyundai Motor for
an aggregate purchase price of KRW 1,606,725,120.
The following is a summary of the capital investment by Shinhan Bank from
October 28, 2004 to December 22, 2004.

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Accumulated %
Business Scope Acquisition date Acquisition Price Ownership after
(KRW million) the acquisition
----------------------------------------------------------------------------------------------------------

Hanmaum Financial Work-out program for
Company consumer creditor Oct. 28, 2004 311 0.29
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Korea Road Infra Asset Management Nov. 23. 2004 11,779 7.93
----------------------------------------------------------------------------------------------------------
Hyundai Motor Company Automobile Manufacturing Nov. 30. 2004 1,520 0.01
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Credit Life Co Credit Information Nov. 30. 2004 4,500 9.00
----------------------------------------------------------------------------------------------------------
Hyundai Motor Company Automobile Manufacturing Dec. 1. 2004 659 0.02
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 2. 2004 3,085 0.91
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 3. 2004 3,406 0.95
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 6. 2004 3,255 0.98
----------------------------------------------------------------------------------------------------------
Korea Road Infra Asset Management Dec. 7 2004 7,068 7.93
----------------------------------------------------------------------------------------------------------
Hyundai Motor Company Automobile Manufacturing Dec. 7. 2004 860 0.03
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 7. 2004 1,279 1.00
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 8. 2004 1,145 1.01
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 9. 2004 7,713 1.11
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 10. 2004 12,853 1.26
----------------------------------------------------------------------------------------------------------
Hyundai Motor Company Automobile Manufacturing Dec. 10. 2004 1,003 0.04
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 13. 2004 2,952 1.30
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 14. 2004 2,893 1.34
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 15. 2004 2,864 1.38
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 16. 2004 2,930 1.41
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 17. 2004 5,609 1.49
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 20. 2004 5,774 1.57
----------------------------------------------------------------------------------------------------------
SK Corporation Oil Refinery Dec. 21. 2004 4,114 1.63
----------------------------------------------------------------------------------------------------------
Hyundai Motor Company Automobile Manufacturing Dec. 22. 2004 1,607 0.05
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RESIGNATION OF EXECUTIVE OFFICER
On December 22, 2004, Mr. Hee Soo Kim, senior executive vice president of
Shinhan Financial Group resigned his position to join Chohung Bank, one of our
major bank subsidiaries, as deputy president. Mr. Kim also resigned his position
as outside director and audit committee member in Shinhan Bank, our wholly owned
bank subsidiary.

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
------------------------------------
Name: Byung Jae Cho
Title: Chief Financial Officer

Date : December 23, 2004