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 January 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-_______.
DEBT TO EQUITY SWAP AND LIQUIDITY SUPPORT TO LG CARD BY SHINHAN BANK AND CHOHUNG
BANK
On January 18, 2005, and January 19, 2005, Shinhan Bank ("SHB") and Chohung
Bank ("CHB"), our major bank subsidiaries, respectively held a meeting of board
of directors to approve the participation in the creditor banks' additional
capital injection in LG Card.
Shinhan Bank and Chohung Bank resolved to conduct debt-to-equity swap
amounting to KRW 11.0 billion and KRW 10.0 billion from previous loans
respectively. SHB and CHB also resolved to provide liquidity support amounting
to KRW 14.3 billion and KRW 12.0 billion each by subscribing common shares newly
issued by LG Card. The detailed schedule for the debt-to-equity swap and
liquidity support will be disclosed when the final agreement is reached among
creditor banks.
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 : January 19, 2005