Phnom Penh Post - Booyoung Khmer Bank expands base with Krong Preah Sihanouk branch

Booyoung Khmer Bank – the subsidiary financial institution of Booyoung Group in Cambodia – has begun full-scale business activities at its new Krong Preah Sihanouk branch following the official opening ceremony on September 13, 2023.

With the opening of the Sihanoukville branch, Booyoung Khmer Bank – under Chairman Lee Joong-keun – is expanding its base, with plans to establish a further four branches in Phnom Penh and major provincial cities by 2025.

Centred around Sihanoukville Autonomous Port – Cambodia’s only deep-sea port – and the Sihanoukville Special Economic Zone (SSEZ), the coastal city is growing as a major economic hub.

Additionally, the Phnom Penh-Sihanoukville Expressway, which opened in October last year, has cut the journey time between the two cities from around five hours to only two, with the number of travellers visiting Sihanoukville increasing as a result.

Booyoung Khmer Bank was established in Cambodia in July 2008, opening its Mean Chey branch in Phnom Penh in 2017. Siem Reap followed in 2018, and the opening of the new Krong Preah Sihanouk location brings the current number of branches to three.

In Phnom Penh, Booyoung Group is building the Booyoung Town mini-city, boasting 15,000 units, with plans to complete and sell the residential-commercial complex first phase of 1,474 apartments and shops.

With the construction of a “Woo Jeong Cambodia School” in Booyoung Town – including kindergarten, daycare centre, elementary, middle and high schools, and a nursing school – Booyoung Group is striving to improve the residential environment in Cambodia.

There will also be a senior citizens’ centre within the Booyoung Town residential complex.

Additionally, Booyoung Group donated 200 buses to Phnom Penh in February 2023, and plans to donate an additional 1,000 as part of efforts to improve public transportation infrastructure in Cambodia.