Shinhan Finance and Gojek Vietnam announce strategic cooperation

Ho Chi Minh city, 07/12/2021 - Gojek Vietnam and Shinhan Vietnam Finance Company Limited (Shinhan Finance) have announced a strategic cooperation between Gojek Vietnam and Shinhan Finance to establish a general framework, facilitate strategic and comprehensive cooperation between the two Companies in matters of mutual interests, business opportunities and the Customer service goals.

Specifically, the establishment of this strategic cooperation is the premise for upcoming new cooperation between two Companies with the general goal: providing our Customers, Partners and Employees with a comprehensive financial integration service and the superior experience.

The Announcement Ceremony took place at Shinhan Finance's office with the participation of key representatives and leaders of the two parties, including Mr. Oh Taejoon - General Director of Shinhan Finance and Mr. Nguyen Trung Kien – Head of Driver Operations, Gojek Vietnam.

The cooperation between Gojek Vietnam and Shinhan Finance is also one of the activities to realize the policy of the Government and the State Bank of Vietnam on promoting non-cash payments and financial inclusion in Vietnam, developing consumer credit for low-income customer segments, contributing to limit black credit situation.

As an on-demand multi-service app, Gojek is connecting more than 200,000 driver-partners and tens-of-thousands of food merchants to millions of Vietnamese consumers. Gojek’s driver-partners make up a good population of informal workers that is crucial in maintaining the economic engine. While the driver-partners work diligently to earn their family’s livelihoods and to ensure the continuity of the city’s supply chain, Gojek has endeavoured relentlessly to find every way to ease their lives through multiple support programs and initiatives.

Shinhan Vietnam Finance Company Ltd. (Shinhan Finance), a member of Shinhan Card (Korea) – a fully foreign owned consumer finance company officially operates with Shinhan Finance brand name since July 2019. With Shinhan Card’s know-how in financial products and more than 15-years-experience of the Company in Vietnam consumer lending market, Shinhan Finance will be the best customer-oriented Finance Company in Vietnam.

The Company will continue to develop our strength, improve service quality as well as ensure credit management quality and risk management, committing to become a transparent and reliable financial company in the Vietnamese market with the business philosophy: Be “the best” company rather than “the-most-profitable”.

Mr. Nguyen Trung Kien, Head of Driver Operations, Gojek Vietnam said: “The collaboration with Shinhan Finance is worthwhile to Gojek, because for the first time, our Gojek driver partners can gain access to a comprehensive low-interest loan facility, which they are in dire need but were unavailable to them before. This support is particularly meaningful in these trying times, helping to ease the financial burden of our driver-partners, especially when many have been impacted by the COVID-19 pandemic.

From the early days of our operations, Gojek has always been pursuing a mission to create a positive impact for our ecosystem of driver-partners, merchants and users. We are delighted to find Shinhan Finance as a like-minded partner who shares our mission and values. Through helping the underbanked to reach a formal financial sector, we hope to contribute to improving financial inclusion and bridging financial gaps in Vietnam’s digital economy.”

Mr. Oh Taejoon, General Director, Shinhan Finance, said: “In the context of technology is developing strongly and people want to access to the financial and banking services that are suitable to their needs and actual conditions, we are delighted to partner with Gojek Vietnam, Southeast Asia's leading technology group and a pioneer of the integrated super app model to offer more comprehensive and effective financial solutions to our customers. Our partnership with Gojek Vietnam is fully aligned with our mission of helping individuals and communities in Vietnam build better lives and a financially secure future and we are excited by its growth prospects.”

Gojek Vietnam and Shinhan Finance have worked closely step by step to complete the cooperation of contract signing, technical connection, and successful launch of the first project between two Companies - Shinhan Finance's preferential loan project for Gojek Vietnam's driver-partners from the beginning of November 2021.

In the long-term plan, Shinhan Finance and Gojek Vietnam will continue to implement innovative ideas and expand the cooperation network in a variety of products and services with the desire to effectively utilize the resources of both two parties to bring comprehensive financial solutions to Vietnamese people.