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 March 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
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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-___________________.
LOANS TO SUBSIDIARIES
On March 16, 2004, we, Shinhan Financial Group, approved the extension
of a loan in the aggregate principal amount of KRW 50,000,000,000 to Shinhan
Capital, our wholly-owned subsidiary. Shinhan Capital provides leasing and
equipment financing services to corporate customers. The loan origination date
is expected to be March 24, 2004. We plan to fund this loan through the issuance
of corporate bonds in the domestic market on March 24, 2004. Among our loan of
KRW 50,000,000,000 to Shinhan Capital, KRW 30,000,000,000 will have a maturity
of three (3) years and the interest rate will be our domestic funding rate plus
20 basis points. The other KRW 20,000,000,000 is a subordinated loan with a
maturity of five (5) years and the interest rate will be our domestic funding
rate plus 70 basis points. Shinhan Capital will use the proceeds for its leasing
operation and for maintaining its required net equity ratio. As of March 24,
2004, total loans outstanding to Shinhan Capital from us will amount to KRW
694,904,978,200.
* SUMMARY OF THE TRANSACTION:
1. Name of the Subsidiary (debtor): Shinhan Capital
2. Aggregate Principal Amount of the Loan: KRW 50,000,000,000
3. Loan Origination Date : March 24, 2004
4. Total Loans to Shinhan Capital: KRW 694,904,978,200
(as of March 24, 2004)
5. Maturity:
KRW 30,000,000,000 3 years
KRW 20,000,000,000 5 years (subordinated loan)
6. Interest Rate :
KRW 30,000,000,000 our domestic funding rate plus 20
basis points
KRW 20,000,000,000 our domestic funding rate plus 70
basis points
7. Use of Proceeds to Shinhan Capital: Leasing Operation and
Maintaining required net equity
ratio
8. Date of Approval: March 16, 2004
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
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Name: Byung Jae Cho
Title: Chief Financial Officer
Date : March 17, 2004