November 27, 2024

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Shinhan Card CEO Moon Dong-kwon (left) poses for a photo with Aster Group Chairperson Alexey Bakal at the Kazakhstan-based conglomerate's headquarters in Almaty, Kazakhstan, Friday. (Shinhan Card)

Shinhan Card looks to expand its business in Kazakhstan through its affiliate Shinhan Finance, joining hands with the local automobile dealership industry and stepping up its digital transformation efforts.

Since its founding in November 2014, Shinhan Finance, Shinhan Card's subsidiary in Kazakhstan, has been focusing on microfinance products such as auto loans and credit loans.

Shinhan Card CEO Moon Dong-kwon, who took office earlier this year, recently visited Kazakhstan to meet with the representatives of local car dealership companies such as Aster Auto and Orbis.

The firm plans to expand its partnership with the car dealership industry, signing a partnership deal with Asia Auto, the country's No. 1 car manufacturing and sales firm, in 2020. It also signed a deal with Aster Auto, which specializes in used car sales, in 2021.

It is also planning for a digital transformation, working on a contactless loan process via mobile and internet. It also plans to offer online-only loans for customers' convenience.

During his visit, Moon attended an opening ceremony of the Arumin Library at Kimep University in Almaty held Friday. Including the newly opened library, Shinhan Card has opened a total of 535 Arumin libraries in South Korea and across the world since 2010 with the aim of helping more people read books. It is the seventh library under Shinhan Card to open overseas and the second to open in Kazakhstan.

By Im Eun-byel (silverstar@heraldcorp.com)