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 December 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      
                                   -----           -----

     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  
                                   -----    -----

         If "Yes" is marked, indicate below the file number assigned to
          the registrant in connection with Rule 12g3-2(b): 82-_______.

ISSUANCE OF FLOATING RATE NOTES BY SHINHAN BANK

On December 2, 2004, Shinhan Bank, one of our major banking subsidiaries,
decided to issue Floating Rate Notes (the "Notes") in the aggregate principal
amount of USD 50,000,000. The Notes are scheduled to be issued on December 15,
2004. The following is a detailed summary of terms and conditions of the
issuance of the Notes.



                         
1. Issuer                   : Shinhan Bank
2. Principal Amount         : USD 50,000,000
3. Pricing Date             : December 2, 2004
4. Settle Date              : December 15, 2004
5. Maturity Date            : December 15, 2006
6. Issue Price              : 100.00%
7. Interest Payment         : Semiannual
8. Coupon Pay Dates         : June 15, December 15 (First Coupon : June 15 2005)
9. Benchmark                : 6-Month USD Libor


                                   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 : December 3, 2004