EXHIBIT 8.1
List of Subsidiaries of Shinhan Financial Group Co., Ltd.
Shinhan Bank Co., Ltd
Shinhan Card Co., Ltd
Shinhan Investment Corp.
Shinhan Life Insurance Co., Ltd.
Shinhan Capital Co., Ltd.
Shinhan Asset Management Co., Ltd.
Jeju Bank
Shinhan Savings Bank
Shinhan DS
Shinhan AITAS Co., Ltd.
Shinhan Credit Information Co., Ltd.
Asia Trust Co., Ltd.
Shinhan REITs Asset Management Co., Ltd.
Shinhan AI. Co., Ltd.
Shinhan Venture Investment Co., Ltd.
SHC Management Co., Ltd.
Shinhan Bank America (incorporated in United States)
Shinhan Bank Canada (incorporated in Canada)
Shinhan Bank (China) Limited (incorporated in People’s Republic China)
Shinhan Bank Europe GmbH (incorporated in Germany)
Shinhan Bank Japan (incorporated in Japan)
Shinhan Bank Vietnam Ltd. (incorporated in Vietnam)
Shinhan Bank Kazakhstan Limited (incorporated in Kazakhstan)
Shinhan Bank (Cambodia) PLC. (incorporated in Cambodia)
PT Bank Shinhan Indonesia (incorporated in Indonesia)
Banco Shinhan de Mexico (incorporated in Mexico)
SBJ DNX, Inc. (incorporated in Japan)
LLP MFO Shinhan Finance (incorporated in Kazakhstan)
PT Shinhan Indo Finance (incorporated in Indonesia)
Shinhan Microfinance Co., Ltd. (incorporated in Myanmar)
Shinhan Vietnam Finance Company Ltd. (incorporated in Vietnam)
Shinhan Investment Corp. Asia Ltd (incorporated in Hong Kong)
Shinhan Investment Corp. USA Inc. (incorporated in United States)
Shinhan Securities Vietnam (incorporated in Vietnam)
PT Shinhan Securities Indonesia (incorporated in Indonesia)
PT Shinhan Asset Management Indonesia (incorporated in Indonesia)
Shinhan Asset Management (Hong Kong) Limited (incorporated in Hong Kong)
Shinhan Financial Plus
Shinhan CubeOn Co., Ltd.
Shinhan Life Insurance Vietnam Co., Ltd. (incorporated in Vietnam)
Shinhan DS Vietnam Co., Ltd. (incorporated in Vietnam)
Shinhan Private Equity Fund 2nd
KOFC Shinhan Frontier Champ 2010-4 PEF
Shinhan Praxis K-Growth Global Private Equity Fund
KT CNP Growth Champ 2011-2 PEF
Neoplux 3rd PEF
Shinhan SKS PEF
Shinhan Smile Gate Global 1st PEF
Shinhan Nautic 1st PEF
JS Shinhan PEF
Other than as otherwise noted herein, all of our subsidiaries are incorporated in Korea.