Shinhan Life looks to share love with society
By Kim Jae-won
For Shinhan Life Insurance, love means sharing with others, particularly those who fall through the social safety net.
The firm’s definition of love is well manifested in its social contribution activities, which focus on providing a variety of support measures to the underprivileged.
The insurance arm of Shinhan Financial Group, the nation’s leading financial holding company, has run a social program called “Stepping Stones” for the last 20 years under the slogan, “36.5 Degree Love, 365 Forever.”
Lim Sang-min, 7, has suffered from leukemia, and has meditated regularly at National Cancer Center since January. Lim’s parents worried about the huge amount of medical expenses. However, they greatly appreciated Shinhan as the insurance company supports the family financially as well as emotionally.
Executives and employees of Shinhan opened special accounts for helping families with children suffering from cancer. Shinhan also signed a memorandum of understanding with the National Cancer Center to help the families.
Shinhan employees donate the last digit of their salaries to them, and the firm matches the donation.
Shinhan launched a micro insurance service, “Shinhan Hope and Love Insurance,” which allows low-income families to get free insurance coverage. The product is funded by insurance money in dormant accounts.
Shinhan also offers special products for the disabled and their families by having them pay lower insurance premiums.
The insurer also aims to spread its spirit of donation by giving 1 percent of its sales to the social activist groups. Shinhan also takes part in the programs of Habitat Korea, a group that provides housing for the underprivileged.
Shinhan also hopes to instill rookie employees with this spirit. The social activities program is an essential part of the education all new employees are required to take.
To promote such activities, all of the teams and departments of the insurer are encouraged to join at least one social welfare institution, such as orphanages and seniors care centers.
“Shinhan wants to help our neighbors through various social programs,” a spokesman of the insurer said.