INTERNSHIP REPORT shinhan vietnam finance company limited

TABLE OF CONTENTS

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LIST OF ABBREVIATIONS

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Abbreviations

English meaning

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Ltd

Limited Company

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SVFC

Shinhan Vietnam Finance

Company

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Vietnamese meaning
Công ty trách nhiệm
hữu hạn
Cơng ty tài chính Shinhan
Việt Nam


LIST OF TABLES AND FIGURE

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ACKNOWLEDGEMENT

The well developed and smoothly operated financial market plays a major
important role in the growth and efficiency of a country. In 2020, Vietnam has
garnered international praise for its swift and effective response to the COVID-19
outbreak. The issue of Vietnam Briefing Magazine, titled “Assessing Vietnam’s

Economic Prospects for Foreign Investors After COVID-19”, stated that: the Asian
Development Bank still forecasts Vietnam to be one of the fastest growing
economies in Southeast Asia while the World Bank observes that Vietnam’s
economy is resilient in the COVID-19 pandemic.
Shinhan Vietnam Finance Company Ltd. (previously known as Prudential
Vietnam Finance Company) is also a company operating in this field with the main
business are personal loan and auto loan.
Being recommended and allowed by English Faculty – Thuong Mai
University, I gratefully experienced as a trainee in the Sales Department of Shinhan
Vietnam Finance Company Ltd.. After nearly one months (from 1/1/2021 to
22/01/2021), under the valuable support and instruction of Sales Management,
Leader team, staffs and other trainees in the company, I was able to apply my
obtained knowledge at university into practice, meanwhile gaining basic
information to complete my internship report.
I would like to express my gratitude toward lecturers at the Faculty of English
– Thuong Mai University as well as my managers and colleagues in Pioneer Textile
and Garment Company Limited. I look forward to receiving comments and
suggestions of the lecturers in order to complete my paper perfectly.
Hanoi, January 21th, 2021
Student
Nguyen Thi Hong Van

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Part 1: OVERVIEW OF SHINHAN VIETNAM FINANCE COMPANY LTD
1.1. The introduction of Shinhan Vietnam Finance Company Ltd.

1.1.1. General introduction of Shinhan Vietnam Finance Company Ltd.
Name: Shinhan Vietnam Finance Company Limited
Date of establishment: July 2019.
Head office address: Floor 23rd, Saigon Trade Center, 37 Ton Duc Thang, Ben
Nghe ward, District 1, Ho Chi Minh city, Viet Nam.
A few of Transaction office addresses (Ha Noi only):
1. Starlake transaction office
Address: TM 2-13, 2nd Floor, Building 903, H9-Ct1 Building, Co Nhue I
Ward, Bac Tu Liem District, Ha Noi.
2. My Dinh Transaction Office
Address: Lot 136, Tt3 - Sudico My Dinh - Me Tri, My Dinh 1 Ward, Nam Tu
Liem District, Ha Noi.
3. Pham Hung Branch
Address: 1st and 2nd Floor, Keangnam Hanoi Building, Me Tri Ward, Nam Tu
Liem District, Ha Noi
Tax code: 0304946247
Tel: (84-28) 39 113 666
Fax : (84-28) 39 101 642
Email :
Website: />1.1.2. The process of foundation and development of Shinhan Vietnam
Finance Company Limited
Shinhan Financial Group (South Korea) – a fully foreign owned consumer
finance company owns Shinhan Card, one of the leading credit card businesses in
Korea (RoK). On July 2019 Shinhan Card officially announced the opening of its
consumer finance company in Vietnam, Shinhan Vietnam Finance Company Ltd.
(SVFC), formerly Prudential Finance. Shinhan Finance also announced the launch
of a new brand identity and slogan.

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Image 1.1. Logo of Shinhan Vietnam Finance Company Limited
Source: />Symbol and Logo:

Global Scale
A leap towards becoming a global integrated financial services brand
representing Korea in the global era. The color scheme is intended to render an
image of a globalized financial firm challenging the world with vision and
confidence.

Hope
The dove and sprout, which were the major elements of the previous CI, have
been reinterpreted to better suit the 21st century sentiment and are symbols of hope
for a bright

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Future path
A drive to march endlessly towards growth.
With Shinhan Card’s know-how in financial products and more than 14-yearsexperience of the Company in Vietnam consumer lending market, Shinhan Finance
is considered one of the best customer-oriented Finance Companies in Vietnam.
In term of legal entity, being one of Shinhan Financial Group's independent
subsidiaries in Vietnam same as Shinhan Bank, Shinhan Securities and Shinhan
Digital Solution, meanwhile Shinhan Finance will continue to operate separately as
usual in Vietnam, each independent subsidiary is obligated to share necessary
reports to the Country Head appointed by Head of Global Business Group of
Shinhan Financial Group.
1.1.3. Vision, mission and core value
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Vision: "World Class Financial Group"
Shinhan Finance is values-based organizations who share a passion for
initiating changes and an intense focus on customer satisfaction and
employee/colleague success. While the details have be determined as a part of the
transition process, the new company will continue to embody that same spirit with
new

experience,

new

value,

creating

exciting

opportunities

for

employees/colleagues and delivering on our shared goals to bring a broader, richer
set of content, solutions, and next-generation products across industries to our
customers. In light with this, Shinhan Finance Vision is to be customers’ companion
with world-class products and services in order to provide solutions to their lifestyle
needs and aspirations needs.
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Mission:
+ For customers: Shinhan Finance mission is to do Good to the World with the
Power of Finance (compassionate Finance). The reason for being is striving to do
good to our customers and the society through every touch-point with Shinhan
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Finance. Shinhan Finance regard their customers as their companions for mutual
success and therefore do their best for customer value creation and protection.
+ For employees: Building a professional and creative working environment.
Having sharing and recognition. Serving customers dedicated and having
opportunities to promote.
+ For the community: Harmonizing corporate interests with social benefits;
Contribute actively to community-oriented activities. Fulfilling its obligations to the

state, paying all taxes in accordance with current regulations. Obeying state
regulations on environmental protection, national security and labor safety.
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Core values: Shinhan Finance core values are foundational to their culture and
include:
+ Customer oriented;
+ Mutual Respect;
+ Initiating change;
+ Towards the best;
+ Ownership
1.2. Organization chart
Shinhan Vietnam Finance Company Ltd organizational structure can be
illustrated as below:

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Head
Head of
of Sales
Sales and
and Distribution
Distribution

Telesales
Telesales

Feet-on-street
Feet-on-street sales
sales (FoSt)
(FoSt)

Telesales
Telesales HCM
HCM

Telesales
Telesales Hanoi
Hanoi

FoS
FoS North
North

Digital
Digital Sales
Sales

3P
3P Sales
Sales

FoS
FoS South

South

FoS
FoS Central
Central

TopUp
TopUp

Sales
Sales strategy
strategy

Sales
Sales Scheme
Scheme and
and Promotion
Promotion

Sales
Sales training
training and
and Engagement
Engagement

Sales
Sales MIS
MIS and
and Analysis
Analysis

Sales
Sales Training
Training Development
Development

Sales
Sales Training
Training Delivery
Delivery

Sales
Sales Engagement
Engagement

Sales
Sales Talent
Talent Acquisiton
Acquisiton

Distribution
Distribution service
service

Administration
Administration Service
Service

Incentives
Incentives and

and Bonus
Bonus

Sales
Sales Disciplinary
Disciplinary

Diagram 1.1. SVFC’s Organizational structure
Total number of employees: SVFC employs more than 500 fulltime
employees, 5,000 Sales agents and outsourcing staffs across Vietnam.
1.3. Annual revenue (2017-2020)
Annual revenue (2017-2019): Prudential Vietnam Financial Inc; (2019-2020):
Shinhan Vietnam Financial Ltd.
Table 1.1. Annual revenue (2017-2020)
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(Source: and Accounting Department of SVFC)
From the above figures, it is clear that revenues and profits of SVFC increase
in each other. In 2018, sales revenue reached over VND 27.6 billion. This figures
for 2019 were slight down to 27.54 billion. We can see that there was a noticeable
increasing in the sales revenue in 2020 compared with the previous years with 3%
in the sales revenue.
This was the time when SVFC officially take over Prudential’s business. This
growth was mainly thanks to such reasons as followed: effort of all employees, the

right direction of the company and the continuous improvement of the quality of
products and services. This results also indicates an optimistic outlook on the
operation of the company in the future.
1.4. Main product
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My Loan
Loan limit: 12 times customer’s salary
Interest rate: 0,8 – 1,8%

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Big Loan
Loan limit: 10000000 - 300000000 VND
Interest rate: 0,8%

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Easy Loan
Loan limit: 10000000 - 300000000 VND
Interest rate: 0,8%
For sure that SVFC will continue to develop products as it is doing today. The
company will also look at opportunities to take advantage of the combined strengths
resulting from this deal aiming to better products and service in the near future.
1.5. Introduction about Sales Department (Internship Department)
Sales Department is the advisory and assisting department for the Director on
the sales of products and services of the company. Besides, it makes the research
and product development, market development, construction and customers’
relationship development. In SVFC, this department takes responsible for:

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Implementing strategies, target and work plans of the division each month for

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submission to the Director for approval.
Finding, developing new customers belonging to the target group of the company.
Searching for customers to make investment, contribute capital in joint ventures,

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associates according to the plan and development strategy of the company.
Maintain and develop relationships with customers. Customer care is according to

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the company’s policy.
Build processes and regulations related to the products and sales of products and
services of the company.

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PART 2: INTRODUCTION OF INTERNSHIP PROCESS IN SHINHAN
VIETNAM FINANCE COMPANY LTD

2.1. The tasks in internship process
During the internship process in Shinhan Vietnam Finance Company Ltd, I
was assigned to intern in Sales Department, this is a great opportunity for me to
experience in a dynamic working environment, broaden my mind, learn and
familiarize myself in multiple skills. Shinhan Vietnam Finance Company Ltd. is a
financial company for financial products. Potential customers is mainly found
through telephone, website, so when I became a sales intern, I did activities such as:
Search for customers, call for consultation, receive legal papers, appoint customers,
draft contract, monitor signing contract process, track payment process, care
customer after sale,... Specific work as follows:
+ Find potential customers through data given. The data directed will be
mainly in industrial zones across the country. Sales manager will assign industrial
zones to every Team Leader and Sales staffs will then find for potential customers
(my team is mainly responsible for the North area).
+ The phone number and information found will be listed in company’s data
of each computer, and the daily task is to call to research the needs of the customers,
then sell the Loan to customers.
+ When a customer wants an amount of loan, the sales staff will ask for
customer’s address, company name, salary tables, etc. and then continuing support
customer via media site like Zalo, Facebook for more information.

+ All the requested data will be entered into a management software of the
company so that the sales manager as well as the general director can know the
information of the customer needs.
The following table gives some detail information about my work in three
weeks that I have completed:

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Week

Given tasks
- Learning about the company’s
regulations.
- Do tests, I must pass all 3 tests in order
to be a finance intern.
- Making the acquaintance of the others
1 (only in the department and working
2
environment.
days) - Visiting the assignment and instructions
of the guide.
- Reading materials or documents of the
company.

2

- Learning how to find potential
customers on e-commerce channels, on
advertisement on website.
- Translate the instruction documents (I
learn more by looking other documents
about company on the Internet and many
specific documents of Sales Department).
- Adapting to the company’s web, main
server and company app (they are all in
English language).
- Summarizing the internship

Expected results
- Adapting myself to the
new working environment.
- Having good instructions
to work effectively
- Understanding the
company’s background, its
missions, its work and my
responsibilities.

- Having more knowledge
about finance contracts and
know to research
customers on e-commerce
channels or via their
friends/families/colleagues

.

Table 2.1. Tasks given in the internship process
At first, I lack my experience and I find myself scared of calling and talking to
customers. I spend my free time learning information and things I would say when I
am mouth-to-mouth with customers. I also watch my co-workers a lot and imitate
how they talking to customer through the phone. My supervisor said theory only
accounts about 50% when I know all about the work but I can’t communicate
clearly, I have to practice talking more and more. So after one week I finally get
used to the work pace and know all the processes I have to do.
2.2. Difficulties and lessons
2.2.1. Difficulties
During my internship at SVFC, I encountered some following difficulties:
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The ability to apply theory in practice is limited, which is lead to some problems
that I still have not handled quickly.
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Working in professional environment that requires high flexibility, I had to make a
lot of efforts to observe and learn knowledge and skills of my prior colleagues every

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day.
My lack of understanding clearly about the finance field lead to a number of
problems during implementation the finance operations.
2.2.2. Lessons
Almost half of a month internship process in Sales Department at SVFC, I
have learned a lot of valuable lessons and specific experiences for myself which my
help my further career growth:

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Apply the knowledge and skills learned at university (writing emails, translation on

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the job).
Have more knowledge about financial field and practice some operations of this

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field such as: write sales contract, document, procedures, etc.
Understand the importance of team work and know how to cooperate with my

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colleagues.
Accumulate more practical knowledge and improve communication skills.
Familiar with the modern, dynamic, professional environment of the company as

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well as office culture in workplace.
Learn how to get along with other colleagues and build a good relationship.
Improve my computer skills and English ability.

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PART 3: THE REALITY IN USING OF ENGLISH AT SHINHAN VIETNAM
FINANCE COMPANY LIMITED.

3.1 The use of English in SVFC
As a finance company only work inside Vietnam, SVFC rarely exchanges with
foreign partners, therefore the usage of English is approximately limited. In
particular, English is used the most in Sales department. In Sales department,
knowing English is an advantage because the data server is in English and we have
to remember every function in English. Therefore, the staffs in this department are
able to use English. Someone who can read and write, someone who is fluent in all
skills. Most of them have quite well at English in reading skills, they seldom use
speaking skills because of the position’s requirement. But knowing how to use
English is an additional requirement in this room. In addition, Quality control
department and HR department also need to use English but not highly demanding.
About the Team leader, She frequently uses English whenever she has conversations
with the Korean partners. Her English ability is at good level so she do not need

interpreter’s help to talk to the foreign partners. Besides, the company’s ecommerce channel also is designed and displayed in English, Vietnamese language
not only to help Vietnamese but also foreigners easily access and find out
information about the company. To do this, the company has a core team of
qualified English- speaking staff who has ever studied carefully as well as
exchanged with foreigners.
However, the use English at SVFC still encounters several limitations:
• They have not exploited the potential of staffs in using English in all
departments.
• Most of staffs are not able to master in all specialized English. In fact, they
have no capacity to use professional English of e-commerce sector.
• Most staffs have only the ability to read and understand English but are not
really good in communicate so sometimes it creates few barriers in transactions
with foreigners. Not many people have mastered Listening and Speaking skills.
They usually mistake some of the common words, and sometimes they could not
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catch the meaning of the sentence when talking to the foreigners and still struggle
with complicated sentences.
3.2. Some solutions to improve the use of English in the working
environment.
• The company should organize weekly training programs of specialized
English for the entire staffs, especially new staffs in the company.
• Each employee should have self-study morale, improve English skills for
themselves and realize the importance of English because it is not only significant

for themselves but also for business operations of the company
• The company has the rewarding policy such as extra bonus for individuals
with good performance, increase the wages for employees who have the good
qualifications and English ability in the workplace. This policy will create
motivation and encourage employees to work and improve their English.
• In recruitment, the company should give the specific requirements of English
and evaluate the English level frequently to raise initiative in the using of English
• Organize English contest in the company and this could be done annually
every year. It can combine English exam with foreign trade professional skills.

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PART 4: SUGGESTION FOR THE SUBJECT OF GRADUATION THESIS

In today’s world, multilingualism is becoming more and more important. In
addition to opening up employment opportunities, being able to speak English
fluently helps to make a real connection with people and to know more about
diverse cultures, places and lifestyles. The more proficient I am, the better I can
express myself. Therefore, when I see my colleagues struggle to speak English
without an accent, and how they left out the grammar to make a full sentence. Me
myself also have difficulties in speaking English when I was a freshman at Thuong
Mai University and I have a hard time to find the best way to speak English
confidently, so I come up with this topic: “Difficulties in English speaking skillFrom the perspective of students at Thuong Mai University” for graduation
thesis. I will collect my experience from almost four years in Thuong Mai

University as well as my friends’ experiences as the main documents for my thesis.
I sincerely hope my guide teacher will help me throughout this issue.

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CONCLUSION

After the internship at Shinhan Vietnam Finance Company Limited, I
understood the organizational structure and the way the company worked. In
particular, I have been guided enthusiastically by my team to know how to work as
a finance intern as well as improve my English skills. Two weeks of internship at
the SVFC was really a valuable time for me. It has helped me gain more knowledge,
more confidence when preparing to go to work and give me valuable lessons.
Once again, I would like to express my sincere thanks to the help of the
company leadership, my colleagues at SVFC for helping me to accomplish this
report.
Hanoi, January 22th, 2021
Student
Nguyen Thi Hong Van

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