Good afternoon. I am IR, Park Cheol Woo, Head of IR. I would like to thank all of you for taking part in today's event, and we'll now commence the 2020 Q4 earnings presentation. We ask for your understanding that only oral presentation is being provided due to the COVID-19 and since Q1 of last year. Once again, we ask for your understanding. With us today is our CFO, Roh Yong-hoon; CMO, [indiscernible]; CSSO, Park Sung-hyun; and CRO, Bang Dong-kwon. We will begin with the presentation of the 2020 Q4 business results by CFO, Roh Yong-hoon; and an explanation on the group's ESG strategy by CSSO, Park Sung-hyun; and afterwards, we'll move on to a Q&A session. We'll now invite CFO, Roh Yong-hoon, to walk us through the business results of Q4 2020.

Good afternoon. I'm Roh Yong-hoon, the CFO of Shinhan Financial Group. I would like to thank all of you for taking part in the 2020 full year's earnings presentation of Shinhan Financial Group. First off on Page 5. In Q4 as well the ordinary income of Shinhan Financial Group continues to be improved. In 2020, there were a number of uncertainties that prevented us from implementing the business plan that we had set up early in the year. As such, we have responded preemptively from a conservative point of view during Q4 to minimize the losses related to the redemption of suspended fund such as Lime and the uncertainties arising from COVID-19. First of all, the response to products in dispute and overseas investment assets. In Q4, as we have already informed during Q3, we have reflected the valuation from the external audit for Lime and other such redemptions suspended funds. Accordingly, the bank has recognized KRW 69.2 billion expected damages and expected damages for customer losses as nonoperating expense. Meanwhile, the investment in core recognized a KRW 115.3 billion expense in Q4 losses related to Lime TRS, our proprietary assets. Including Q4, in relation to financial investment products sold to customers, expenses totaling KRW 472.5 billion was recognized for the full year in 2020. And for the full year, the cumulative is KRW 520 billion that was recognized. In Q4, though a conservative recognition of the losses in the financial investment products sold to customers, we expect to limit the recognition of expenses and future-related losses. In addition, some of the overseas investment assets invested with proprietary assets, the loss in valuation of KRW 69.6 billion assessed by an external audit were recognized as noninterest expense, and expenses that may arise in the future due to COVID-19 was preemptively…

Greetings. I am CSSO, Park Sung-hyun. In November 2020, SFG became the first East Asian financial institution to announce its strategy of zero-carbon drive to respond to climate change. The plan is to achieve zero-carbon emission for the group's asset portfolio by 2030. It is indeed a very ambitious goal for a financial institution with our portfolio to reach carbon-neutral. The reason for such high-reaching goal is that the market environment is changing due to strengthening of regulations related to carbon neutrality by international organizations, nations and financial authorities, including Korea. What this means is that business as usual and traditional role of finance are no longer applicable. Therefore, Shinhan aims to look at this, a change in environment, as the new business opportunity. It plans to do so by proactively trying to achieve zero carbon and entering early on into profit-generating markets, doing continuous research and collaborating with other stakeholders. In order to reduce emissions from its asset portfolio by 38.6% by 2030, quantifiable goal was set to make ecofriendly investment and assistance of worth about KRW 30 trillion. A reduction target was set by applying science-based target initiative guideline, as published in October of 2020, in order to implement Paris accords. The scope of goal for carbon offset will be adjusted based on [case] taxonomy, the green finance standards, to be announced shortly by the Korean government. Shinhan, in particular, will expand its support for renewable energy and development of ecofriendly new technologies and opportunities. This presents -- excuse me, this ends the presentation on ESG.

This is Roh Yong-hoon, the CFO. From Page 17 and onwards contain detailed earnings information of the Group and its major subsidiaries as well as main business indicators for your reference. We -- year 2021, as was the case with 2020, will be a year of complex uncertainties with added confusion and chaos. Vaccination does signal hope. However, in the financial plan for 2021, such factors as how much longer the current pandemic will last, how fast the digital players move into the market and how to restore the trust of WM clients, have been included. To prepare for a future with sustained growth, fundamentals will be made stronger, quality improvement of core businesses will be endeavored and new engines for growth will be explored. This concludes the earnings presentation. In this auspicious year of write-offs, I wish you success in all of your future endeavors. Thank you. End of Q&A: