BlackRock, Inc. filed an amended beneficial ownership statement with the SEC on October 27, 2026, disclosing a 10.0% stake in Shinhan Financial Group Co Ltd as of September 30, 2026.

Key Highlights

  • Aggregate beneficial ownership: BlackRock, Inc. reported beneficial ownership of 46,798,582 shares of Shinhan Financial Group common stock.
  • Percent of class: The 46,798,582 shares represent 10.0% of the outstanding common shares of Shinhan Financial Group Co Ltd.
  • Sole voting power: BlackRock reported sole voting power over 30,711,864 shares, with zero shares subject to shared voting power.
  • Sole dispositive power: BlackRock reported sole dispositive power over all 46,798,582 shares beneficially owned, with no shared dispositive power.
  • Event date: The date of the event requiring the filing was September 30, 2026, and the statement was signed October 27, 2026.
  • No single outside interest above 5%: According to the filing, no one person's interest in Shinhan Financial Group common stock held through BlackRock exceeds five percent of total outstanding shares.

BlackRock's Amended Position in Shinhan Financial Group

BlackRock, Inc., a Delaware-incorporated parent holding company headquartered at 50 Hudson Yards, New York, NY 10001, filed Amendment No. 1 to its Schedule 13G with the SEC to report its beneficial ownership in Shinhan Financial Group Co Ltd (NYSE:SHG), a South Korea-based financial group whose principal executive offices are located at 120 2-GA Taepyung Ro Jung Gu, Seoul 100-102, Republic of Korea. The filing covers common stock identified by CUSIP number Y7749X101, and the triggering event date is September 30, 2026.

According to the filing, BlackRock reported aggregate beneficial ownership of 46,798,582 shares, equating to 10.0% of the class. Of those shares, 30,711,864 are subject to sole voting power, while the remaining shares carry no voting authority in this report. BlackRock holds sole dispositive power over the entire 46,798,582-share position, with zero shares under shared dispositive control. The filing notes that the reported holdings reflect securities beneficially owned by certain business units of BlackRock, Inc. and its subsidiaries and affiliates, consistent with SEC Release No. 34-39538 dated January 12, 1998, and do not include securities held by other business units whose ownership is disaggregated from the reporting business units under that release.

The filing further states that various persons have the right to receive or direct receipt of dividends from, or proceeds from the sale of, the reported Shinhan Financial Group shares. BlackRock certified, through Managing Director Spencer Fleming, that the securities were acquired and are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control of Shinhan Financial Group. Exhibit 99 to the filing identifies the relevant BlackRock subsidiaries through which the position is held.

What Was Disclosed

BlackRock, Inc. disclosed an amended beneficial ownership position of 46,798,582 common shares, or 10.0%, in Shinhan Financial Group Co Ltd as of September 30, 2026, with sole dispositive power over the full position and sole voting power over 30,711,864 shares.