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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, October 27, 2025 — Four major South Korean banks have paid approximately ₩1.45 billion (US$1.05 million) in interest to Cambodia’s Prince Group, which has been implicated in regional organized crime and money-laundering activities, according to data released by the Financial Supervisory Service (FSS) on Monday.
The banks involved — Jeonbuk Bank, KB Kookmin Bank, Shinhan Bank, and Woori Bank — are all operating local subsidiaries in Cambodia. Among them, Jeonbuk Bank paid the highest interest, ₩708 million, followed by KB Kookmin Bank with ₩673 million, Shinhan Bank with ₩61 million, and Woori Bank with ₩11 million.
As of this month, the four banks collectively hold ₩91.1 billion (US$66 million) in deposits belonging to the Prince Group.
These funds have been frozen under international sanctions, following allegations that the group was involved in large-scale financial crimes tied to Cambodian organized networks.
The FSS added that the total volume of financial transactions between the Prince Group and Korean banks has been revised upward to ₩214.6 billion (US$155 million) — an increase of roughly ₩17 billion (US$12 million) from previous estimates.
The updated figures come amid broader scrutiny of financial linkages between Korean institutions and high-risk entities in Southeast Asia, as domestic and international regulators tighten oversight to prevent the misuse of banking systems for illicit fund transfers.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
