Shinhan Financial Group Chair Jin Ok-dong has completed a three-day visit to Kazakhstan and Uzbekistan to tap deeper into the Central Asian markets, the banking conglomerate said Sunday.

Starting Wednesday, the Shinhan chairperson held meetings with senior officials from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market and the Central Bank of Uzbekistan to discuss opportunities for collaboration and financial sector development.

With Central Asia emerging as a strategic market, Jin’s visit focused on assessing local operations and promoting financial cooperation.

Currently, the Korean financial conglomerate runs three entities in the Central Asian region, including two in Kazakhstan — Shinhan Finance and Shinhan Bank Kazakhstan — and one in Uzbekistan — Shinhan Bank Uzbekistan.

The group has seen these markets bear fruit, with Shinhan Bank Kazakhstan reporting 103.1 billion won ($73 million) in profit last year and an average of 231 percent growth over two years.

The profit generated by the Kazakhstan banking unit accounts for 13.6 percent of its outstanding global profit of 758.9 billion won.

He also visited Aster Auto, Kazakhstan's top seller of used cars and Shinhan Finance's local business partner, to review operations and encourage business growth.

“Shinhan Financial will continue to closely monitor the rapidly growing Central Asian market and expand various forms of exchange to build a foundation for the group’s sustainable growth,” Jin said.

The chairperson also attended the opening of a Korea Pavilion at Al-Farabi Kazakh National University, where he presented scholarships to local students, highlighting the group’s commitment to cultural and educational exchange.

By Chung Hye-lim (hyelimchung@heraldcorp.com)