Shinhan Financial Group

Refer to Exhibit 99.1

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

Date: April 10, 2008	By:	/s/ Buhmsoo Choi
	Name:	Buhmsoo Choi
	Title:	Chief Financial Officer

EXHIBIT INDEX

Exhibit No.		Description

99.1		Shinhan Financial Group and Shinhan Bank obtain the Federal Reserve Bank’s approval to become Financial Holding Companies

EX-99.1 2 exhibit1.htm EX-99.1 Exhibit EX-99.1

Shinhan Financial Group and Shinhan Bank obtain the Federal Reserve Bank’s approval to become Financial Holding Companies

On April 10, 2008, Shinhan Financial Group(“SFG”) and Shinhan Bank(“SHB”), a wholly-owned subsidiary of SFG, were notified by the Federal Reserve Bank(“FRB”) that elections filed by SFG and SHB to become Financial Holding Companies(“FHCs”) have been approved without objection as of April 8, 2008.

Henceforth, SFG and SHB may engage in activities that are financial in nature or incidental to a financial activity. The activities permissible for FHCs and the applicable notice procedures are contained in sections 225.85 through 225.89 of Regulation Y(12 CFR 225.85-.89).

Shinhan Financial Group ———————————————————————————————————
(Translation of registrant’s name into English)

120, 2-Ga, Taepyung-Ro, Jung-Gu, Seoul 100-102, Korea
——————————————————————————————————— (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [x] Form 20-F [ ] 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 [x] No