Madiyar Sultanbek, Deputy Chairman of the Management Board of NC “KAZAKH INVEST”, held a working meeting with Seung Hyeon Seo, Deputy CEO and Head of the Global Business Group of Shinhan Bank.

Shinhan Bank is part of Shinhan Financial Group, one of the largest financial holdings in the Republic of Korea, and ranks 64th among the Top-100 global banks according to The Banker 2024. The Group’s assets exceed USD 513 billion, with credit ratings of Aa3 / A+ / A from Moody’s, S&P, and Fitch, respectively.

In Kazakhstan, the bank operates through its subsidiary Shinhan Bank Kazakhstan JSC, providing corporate and investment banking services.

During the meeting, representatives of Shinhan Bank shared information about their current operations in Kazakhstan and presented their views and recommendations as part of the discussion on the new Tax Code. The bank emphasized the importance of creating balanced and predictable conditions for investors and financial institutions, expressing readiness for continued constructive engagement with the Kazakh side.

The parties discussed opportunities to expand the bank’s participation in financing investment projects supported by KAZAKH INVEST, including initiatives in industry, processing, logistics, digital services, and the green economy.

Madiyar Sultanbek noted that the presence of a major South Korean financial institution strengthens competition in Kazakhstan’s banking sector and creates additional opportunities for financing both private and public projects:

“Shinhan Bank is one of Asia’s most stable and technologically advanced financial institutions, and its growing activity in Kazakhstan opens new opportunities for financing investment initiatives. We stand ready to provide full support in expanding the bank’s operations and developing new instruments for investors,” said Sultanbek.

Representatives of Shinhan Bank expressed readiness to deepen cooperation and explore participation in structuring the financing of major projects in Kazakhstan, including joint initiatives through the KAZAKH INVEST platform.

Following the meeting, both sides agreed to continue dialogue and elaborate practical mechanisms for further cooperation.