Korean banks seek cash cow in Cambodia

Korea’s commercial banks are expanding their presence in Cambodia by providing differentiated financial services for customers, bank officials said Thursday.

In line with the Moon Jae-in administration’s New Southern Policy, banks have done their utmost in developing new growth engines in Southeast Asian countries to overcome the saturated domestic market. And Cambodia is becoming their El Dorado, reflecting its rapid economic growth.

According to financial circles, Shinhan and KB Kookmin Bank have entered the Cambodian market by establishing corporate bodies, while Woori acquired a local savings bank and a microfinance firm there.

In full: http://www.koreatimes.co.kr/www/biz/2019/06/126_270172.html

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