Simpson Thacher, acting as sole international counsel, represented Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Mizuho Securities USA Inc., Morgan Stanley & Co. International plc, Shinhan Asia Limited and Shinhan Investment Corp., as dealers, in connection with the update of the US$6 billion Global Medium Term Note program of Shinhan Bank. In addition, Simpson Thacher, acting as sole international counsel, represented Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Mizuho Securities USA Inc., Morgan Stanley & Co. International plc, Shinhan Asia Limited and Shinhan Investment Corp., as joint lead managers, in connection with the offering of US$500 million 2.875% Senior Unsecured Notes due 2022 by Shinhan Bank under its Global Medium Term Note program. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.

Shinhan Bank is one of the leading commercial banks in Korea providing a wide range of commercial and other banking services to retail and corporate customers primarily in Korea and, to a lesser extent, in select overseas markets. Shinhan Bank is the flagship subsidiary of Shinhan Financial Group, one of the leading financial holding companies in Korea with shares listed on the Korea Exchange and the New York Stock Exchange.

The Simpson Thacher team for the transaction included Jin Hyuk Park and Joongwon Park (Corporate – Seoul); Rob Holo and Jacqueline Clinton (Tax); Mark Chorazak (Regulatory); Jeanne M. Annarumma (ERISA); and Jennie Getsin (Blue Sky).