“Big 5” Korean Bank Under Fire Following Statement About Kim Soo Hyun’s Controversy
This article is part of our coverage of Kim Soo Hyun And Kim Sae Ron's Relationship. You can read more and view the entire timeline here.
Shinhan Financial Group, one of South Korea’s top five financial institutions, is facing severe public backlash after addressing the controversy surrounding actor Kim Soo Hyun, who currently serves as their model.
Recently, Kim Sae Ron‘s aunt accused Kim Soo Hyun of having dated the late actress for 6 years since she was 15 years old and that his company attempted to extort money off of her after initially covering damages from her DUI accident.
Following the viral accusations, netizens have turned their attention to Kim Soo Hyun’s brand deals and demanded several companies cut ties with the actor.
On March 12, Shinhan Financial Group stated that it is closely monitoring the situation and will carefully assess how to proceed. The cautious response, however, has drawn criticism from the public, with many questioning why the company is hesitating instead of taking immediate action.
We are carefully monitoring the situation regarding our model [Kim Soo Hyun] and will review it with caution.
— Shinhan Financial Group via Ilgan Sports
Shinhan Financial Group signed Kim Soo Hyun as the face of its wealth management brand in June last year. He was also appointed as a brand ambassador for Shinhan’s Vietnam operations. The decision was a major move, as it was the first time in 13 years that Shinhan had selected a representative model for the entire group.
When he was hired, the company expressed confidence in the actor, stating that his trustworthy, reliable, and professional image would strengthen brand recognition.
We believe that Kim Soo Hyun conveys the image of a trustworthy, professional, and friendly bank. His long-established positive reputation is expected to create great value and enhance brand recognition in the Vietnamese market, particularly among younger customers.
— Shinhan Vietnam
김신한 밤에도 봐야지~
coex K-pop Square #김수현 #KimSooHyun pic.twitter.com/WG3fiLm1HO— dodolucy_k216 (@ey_dodolucy) December 18, 2024
However, the recent allegations against Kim Soo Hyun have put his reputation at risk.
Even though Kim’s company, GOLD MEDALIST, has denied all accusations thrown his way, negative sentiment continues to grow among the public. Netizens are now threatening to stop using Shinhan’s services and boycott the bank if they don’t immediately cut ties with Kim Soo Hyun.
- “This was my main bank, but goodbye. There weren’t any benefits anyway, and now I understand their corporate values.”
- “Wake up.”
- “What are they even ‘monitoring’? Shinhan’s image was already garbage to begin with. Tsk tsk.”
- “I sold my Shinhan Financial Group stocks yesterday.”
- “Shinhan is my main bank, but if they continue using Kim Soo Hyun, I’m closing my account.”
