November 21, 2024

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KB Financial Group Chairman Yang Jong-hee (left) and Hun Sen, president of the Cambodian Senate, pose for a photo during their meeting held at the Inspire Entertainment Resort in Incheon, Wednesday. (KB Financial Group)

KB Financial Group Chairman Yang Jong-hee met with Hun Sen, president of the Cambodian Senate, on Wednesday to discuss potential collaborations aimed at advancing financial development in Southeast Asia and enhancing KB’s presence in the region.

The meeting was held at the Inspire Entertainment Resort in Incheon during Hun Sen’s visit to Korea for the 25th World Knowledge Forum, where he was a speaker.

During their discussion, Yang and Hun Sen agreed to strengthen cooperation to improve the financial landscape in Southeast Asia and support KB Financial’s expansion in the region.

In particular, they explored strategies for collaboration involving KB’s local subsidiaries and major affiliates engaged in social contribution activities, such as education and health care.

KB Financial’s presence in Cambodia began in 2009 with the establishment of KB Cambodia Bank. Following the acquisition of Prasac Microfinance in 2021, KB Kookmin Bank merged it to create KB Prasac Bank in 2023, offering comprehensive financial services nationwide since. KB Kookmin Card also entered the Cambodian market in 2018 through KB Daehan Special Bank.

Highlighting recent partnerships, Yang noted KB Financial’s signing of a memorandum of understanding with Cambodia to establish a cross-border QR code-based payment system in May and another with the Cambodian Ministry of Labor to support loans for Cambodian workers abroad.

“We will continue to lead efforts to enhance exchanges between the two countries and ensure that Cambodians benefit from improved financial services through KB Financial Group’s capabilities,” Yang said.

During the meeting, KB Financial Group also presented donations to the "Hun Sen Scholarship Foundation," which provides scholarships to low-income Cambodian university students.

By Choi Ji-won (jwc@heraldcorp.com)