Shinhan Financial Group is expected to cut ties with actor Kim Soo Hyun following allegations that he was in a relationship with the late Kim Sae Ron during her underage years. Industry insiders suggest a contract renewal is unlikely.

On March 27, a banking industry source familiar with Shinhan’s internal affairs stated, "As far as I know, there are still a few months left on Kim Soo Hyun’s contract with Shinhan Financial," adding, "But I don’t think a renewal is likely," while waving off the possibility.

Kim Soo Hyun was selected as the model for Shinhan’s Premier Wealth Management service in July last year. Given that the contract is typically signed on a one-year basis, it is set to expire this coming July, with just over three months remaining.

While Shinhan Financial has recently taken down advertisements and images featuring Kim Soo Hyun, it has maintained that it is "monitoring the situation" regarding any formal contract termination.

However, speculation is growing that Shinhan may alter its stance following intensifying allegations surrounding Kim Soo Hyun’s alleged relationship with Kim Sae Ron during her minor years.

On the afternoon of March 27, Kim Sae Ron’s family held a press conference in Seocho District, Seoul, during which they disclosed images of a KakaoTalk conversation they claimed took place between the two when Kim Sae Ron was 16. The messages reportedly included phrases such as "kiss" and "when can I fall asleep in your arms," suggesting an intimate relationship.

SEE ALSO: Late Kim Sae Ron's family share the touching letter left by a journalist