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.
Orange Life Insurance, Ltd.
Shinhan BNP Paribas Asset Management Co., Ltd.
Shinhan Capital Co., Ltd.
Jeju Bank
Shinhan Savings Bank
Shinhan DS
Shinhan AITAS Co., Ltd.
Shinhan Credit Information Co., Ltd.
Shinhan Alternative Investment Management Inc.
Asia Trust Co., Ltd.
Shinhan REITs Asset Management Co., Ltd.
Shinhan AI. Co., Ltd.
SHC Management Co., Ltd.
Shinhan Asia Limited (incorporated in Hong Kong)
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)
LLP MFO Shinhan Finance (incorporated in Kazakhstan)
PT Shinhan Indo Finance (incorporated in Indonesia)
Shinhan Microfinance Co., Ltd. (incorporated in Myanmar)
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)
Shinhan BNP Paribas Asset Management (Hong Kong) Limited (incorporated in Hong Kong)
Shinhan Vietnam Finance Company Ltd. (incorporated in Vietnam)
Shinhan Private Equity Fund 2nd
KOFC Shinhan Frontier Champ2010-4 PEF
Shinhan Stonebridge Petro Private Equity Fund
Shinhan PraxisK-Growth Global Private Equity Fund
GX Shinhan Intervest 1st Private Equity Fund
Other than as otherwise noted herein, all of our subsidiaries are incorporated in Korea.