Shinhan Bank selected as the preferred negotiating partner for Incheon City’s 1st safe deposit box… 20 years of continuous operation

(Seoul = Yonhap News) Reporter Lee Do-heun = Shinhan Bank was selected as the preferred negotiating partner for 1 Safe, which will manage Incheon City's funds for four years starting next year.

According to Incheon City and the financial sector on the 17th, Incheon City held a safe deposit designation deliberation committee on this day and selected Shinhan Bank as the preferred negotiating party for No. 1 Safe.

The bank selected as the preferred negotiating party will negotiate and confirm the proposal and detailed conditions with the city and enter into a final agreement within 20 days from the date of selection.

Once the final contract is signed, Shinhan Bank will take charge of Incheon City's No. 1 safe deposit box for four years from 2027 to 2030.

With this decision, Shinhan Bank will continue to operate Incheon City's No. 1 safe, which has been in operation since 2007, for 20 consecutive years.

Incheon City 1 Geumgo manages general accounting, public enterprise special accounting, and funds, and its annual management scale is approximately 17 trillion won.

In this public offering, Shinhan Bank and Hana Bank competed for the first safe.

Hana Bank challenged No. 1 Safe by highlighting the recent relocation of the group's core base to Cheongna, Incheon.

On the other hand, Shinhan Bank highlighted its safe deposit business experience, system stability, and business continuity accumulated while operating Incheon City No. 1 safe for 20 years since 2007 as its main strengths.

The city drew a conclusion by combining credit rating, financial structure stability, city loan interest rate and deposit interest rate, and vault business management ability.

Shinhan Bank said, "Based on the stable safe operation experience and financial capabilities we have accumulated over the years, we will further increase financial convenience for Incheon citizens," and added, "We will do our best to continue to contribute to Incheon's economic growth and regional development."

NH Nonghyup Bank, which applied alone, was selected as the preferred negotiating party for Incheon City's 2nd Safe, which is in charge of other special accounting.

Previously, Shinhan Bank was selected as the 1st and 2nd safe operating bank in the next Seoul City safe deposit screening held in May.