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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001145549-04-000722.txt : 20040604
<SEC-HEADER>0001145549-04-000722.hdr.sgml : 20040604
<ACCEPTANCE-DATETIME>20040604074800
ACCESSION NUMBER:		0001145549-04-000722
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040604
FILED AS OF DATE:		20040604

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHINHAN FINANCIAL GROUP CO LTD
		CENTRAL INDEX KEY:			0001263043
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31798
		FILM NUMBER:		04848444

	BUSINESS ADDRESS:	
		STREET 1:		120 2-GA TAEPYUNG RO JUNG GU
		CITY:			SEOUL100-102
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		82263603000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>u99083e6vk.txt
<DESCRIPTION>SHINHAN FINANCIAL GROUP CO., LTD.
<TEXT>
<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                           For the Month of June 2004

                        SHINHAN FINANCIAL GROUP CO., LTD.
                 (Translation of registrant's name into English)

              120, 2-Ga, Taepyung-Ro, Jung-Gu, Seoul 100-102, Korea
                    (Address of principal executive offices)

          Indicate by check mark whether the registrant files or will
           file annual reports under cover of Form 20-F or Form 40-F.

                   Form 20-F   X            Form 40-F
                             -----                    -----

     Indicate by check mark if the registrant is submitting the Form 6-K in
         paper as permitted by Regulation S-T Rule 101(b)(1):
                                                              ----------

     Indicate by check mark if the registrant is submitting the Form 6-K in
         paper as permitted by Regulation S-T Rule 101(b)(7):
                                                              ----------

        Indicate by check mark whether the registrant by furnishing the
       information contained in this form is also thereby furnishing the
       information to the Commission pursuant to Rule 12g3-2(b) under the
                        Securities Exchange Act of 1934.

                         Yes                No   X
                             -----             -----

       If "Yes" is marked, indicate below the file number assigned to the
          registrant in connection with Rule 12g3-2(b): 82-          .
                                                           ----------


<PAGE>



DETERMINATION OF EXERCISABLE NUMBER OF STOCK OPTIONS GRANTED TO MANAGEMENT GROUP
OF SHINHAN FINANCIAL GROUP AND ITS SUBSIDIARIES

On June 4, 2004, the exercisable number of stock options granted on May 22, 2002
to the management group (general manager level or equivalent) of Shinhan
Financial Group and its subsidiaries was determined as terms of the exercise
conditions were finalized. Out of the total 474,200 number of stock options
granted, 10,946 options were cancelled mainly because some grantee managers had
retired before the 2nd anniversary of the grant date. Therefore, the final
exercisable number of stock options granted to the management group on May 22,
2002 is 463,254.

<PAGE>


                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.




                                            SHINHAN FINANCIAL GROUP CO., LTD.


                                            By /s/ Byung Jae Cho
                                            ------------------------------------
                                            Name:  Byung Jae Cho
                                            Title: Chief Financial Officer

Date : June 4, 2004



</TEXT>
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