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Shinhan Financial Group became the first Korean financial group to establish a holding company in Indonesia.
Shinhan Financial Group announced on Tuesday that it has become the first Korean financial group to establish a holding company in Indonesia. By converting Shinhan Bank Indonesia into an operating holding company, it has formed Shinhan Financial Group Indonesia, aiming to strengthen its foothold in Southeast Asia's largest economy. The bank has acquired a controlling stake of 50% plus one share in both Shinhan Indo Finance and Shinhan Sekuritas Indonesia, integrating its banking, finance, and securities businesses.
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