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 May 2005
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-_______.
CHANGE OF PRESIDENT & CHIEF EXECUTIVE OFFICER
On May 17, 2005, Shinhan Financial Group announced that Mr. In-Ho Lee has been
appointed as new president & Chief Executive Officer by the Board of Directors.
Mr. Lee has been a founding member of Shinhan Bank with seasoned experiences
such as General Manager of Treasury Department, General Manager of Operation
Department, Senior Executive Director, and Deputy President before becoming the
President and CEO of Shinhan Bank during 1999 and 2003. Especially, during his
tenure as President and CEO of the Bank, he successfully led Shinhan to become a
leading bank overcoming the financial crisis in late 90's in Korea based on
enhancement in credit risk management, building capital with GDR, and
restructuring operation structure of the Bank.
DETERMINATION OF EXERCISABLE NUMBER OF STOCK OPTIONS GRANTED TO EXECUTIVE
OFFICERS AND EMPLOYEES OF SHINHAN FINANCIAL GROUP AND ITS SUBSIDIARIES
On May 17, 2005, the exercisable number of stock options granted on May 15, 2003
to executive officers and employees of Shinhan Financial Group and its
subsidiaries was determined as terms of the exercise conditions were finalized.
The original number of stock options granted to executive officers and employees
was 1,156,300 shares, among which, 146,010 options were cancelled. Therefore,
the exercisable number of stock options granted on May 15, 2003 is 1,010,290
shares. The payment method was also determined as to pay the grantees cash in an
amount to the difference between the exercise price and the market price of
shares at the exercise date.
Original Number of Exercisable
number of cancelled number of
Grantee options granted options stock options
------------------ --------------- --------- -------------
Executive Officers 640,000 122,664 517,336
Employees 516,300 23,346 492,954
--------- ------- ---------
Total 1,156,300 146,010 1,010,290
========= ======= =========
The following is detailed information on exercisable number of stock options
granted to executive officers on May 15, 2003.
Position held at Number of Exercisable
Name of Grantee (on the grant date) Original number cancelled number of
(Note 1) of options granted options stock options
---------------- ----------------------- ------------------ ---------- -------------
Eung Chan Ra Shinhan Financial Group 100,000 4,610 95,390
Young Hwi Choi Shinhan Financial Group 90,000 4,149 85,851
Bhang Gil Choi Shinhan Financial Group 20,000 922 19,078
Min Ky Han Shinhan Financial Group 20,000 922 19,078
Youn Soo Song Shinhan Financial Group 20,000 4,681 15,319
Sang Hoon Shin Shinhan Bank 80,000 2,840 77,160
Hong Soon Moon Shinhan Bank 20,000 11,688 8,312
Jae Woo Lee Shinhan Bank 20,000 710 19,290
Joong Ok Huh Shinhan Bank 20,000 710 19,290
Sahng-Dae Kim Shinhan Bank 20,000 710 19,290
Gwang Lim Youn Shinhan Bank 20,000 710 19,290
Woo Seop Cho Shinhan Bank 20,000 4,510 15,490
Hee Soo Kim Shinhan Bank 20,000 710 19,290
Do Heui Han Shinhan Bank 20,000 710 19,290
Christopher Shin Shinhan Bank 15,000 10,191 4,809
Dae Woon Lee Shinhan Bank 15,000 10,191 4,809
Sung Kyun Hong Shinhan Card 30,000 25,016 4,984
Tae Kyu Lee Shinhan Card 10,000 8,339 1,661
Seong Won Kim Shinhan Card 10,000 8,339 1,661
Woo Yeob Shim Shinhan Card 10,000 8,339 1,661
Dong Girl Lee Shinhan Capital 30,000 0 30,000
Yun Kang Jung Shinhan Capital 10,000 6,676 3,324
Myoung Kee Jang Shinhan Capital 10,000 6,991 3,009
Beom Seong Shin Shinhan Credit Info. 10,000 0 10,000
------- ------- -------
Total - 640,000 122,664 517,336
======= ======= =======
Note 1) The Grantees were executive officers of the relevant company on the
grant date, May 15, 2003. Their current positions might be different from those
on the grant date.
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 : May 17, 2005