South Korea’s Largest Bank Eyes Expansion in Cambodia’s Financial Sector

PHNOM PENH, Cambodia (Oct.21, 2025) — South Korea’s KB Kookmin Bank is positioning its Cambodian operations as a regional model for investment, signaling plans to expand financial services and deepen its footprint in the Kingdom’s banking sector.

During a high-level meeting with Dr. Chea Serey, Governor of the National Bank of Cambodia, on Oct. 20, KB Kookmin Bank President Lee Hwan Ju reaffirmed the bank’s long-term commitment to Cambodia through its subsidiary, KB Prasac Bank Plc. The delegation’s visit to NBC’s Wat Phnom office underscored growing investor confidence in Cambodia’s economic trajectory and regulatory environment.

“Cambodia’s favorable investment climate has encouraged our shareholders to strengthen their support,” Lee said, adding that Kookmin Bank aims to showcase its Cambodian operations as a benchmark for other Korean investors.

Lee also praised the SOSORO Museum of Money and Economy for its professional presentation and highlighted Cambodia’s rich monetary history. His itinerary includes field visits to KB Prasac Bank branches in the provinces to assess opportunities for expanding financial products and services.

Governor Chea Serey welcomed the delegation’s interest and reiterated NBC’s commitment to fostering a transparent and supportive regulatory framework. She briefed the delegation on recent policy developments and emphasized the central bank’s role in promoting sustainable financial sector growth.

Both sides exchanged views on global and regional economic trends, financial stability, cybersecurity, and cross-border payment systems.

In a social media post, Chea Serey described the meeting as a “testament to the company and Mr. Lee’s personal trust in Cambodia’s present and future,” noting his plans to travel beyond Phnom Penh to observe local market dynamics.

Lee was accompanied by Kang Nam Che, Senior Vice President of Kookmin Bank, and Oum Sam Oeun, President and CEO of KB Prasac Bank.

KB PRASAC Bank Plc. was officially launched on August 7, 2023, marking the successful merger between KB PRASAC Microfinance Institution Plc. and Kookmin Bank Cambodia Plc. The newly formed entity, operating under the name KB PRASAC Bank Plc. (“KB PRASAC”), now holds a commercial banking license issued by the National Bank of Cambodia and has received final integration approval from the Ministry of Commerce.

Bilateral trade between Cambodia and South Korea reached approximately $762 million in the first eight months of 2025, reflecting an 11.5% increase year-on-year. Cambodian exports to South Korea rose to $288 million, up 13.8%, driven by garments, footwear, and agricultural products.

The Cambodia-Korea Free Trade Agreement (CKFTA), in effect since 2022, continues to enhance market access and reduce tariffs, contributing to the trade surge. Both countries are also expanding cooperation in digital technology, food processing, and finance, reinforcing South Korea’s role as a key development and investment partner for Cambodia.