Booyoung Group to Build School in Cambodia, a 'Core Business Area' (Comprehensive)

(From left) Lee Joong-geun, Chairman of Booyoung Group, Hang Chun Naron, Minister of Education of Cambodia, and Park Heung-kyung, Ambassador of Korea to Cambodia, are conducting a commemorative tape-cutting ceremony at the groundbreaking ceremony of the 'Ujeong Cambodia School' held on the 22nd. Photo by Booyoung Group

[Asia Economy Reporter Hwang Seoyul] Booyoung Group is building the "Woojeong Cambodia School" within Booyoung Town in Phnom Penh, Cambodia. Cambodia is one of the key business locations for Booyoung Group, which is actively expanding its business into overseas markets.

On the 22nd (local time), Booyoung Group announced that it held a groundbreaking ceremony for the "Woojeong Cambodia School" in Phnom Penh, Cambodia. The event was attended by Booyoung Group's founder, Chairman Lee Joong-geun, who holds the philosophy that "education is an investment for the future." Also present were Hang Chun Naron, Cambodia's Minister of Education, Ambassador Park Heung-kyung of South Korea to Cambodia, local Cambodian students, residents, and about 200 members of the Korean community.

The "Woojeong Cambodia School" is planned to be built with a total floor area of 15,475㎡, consisting of three buildings with five floors each. It will be a large-scale school with 71 classrooms including a daycare center, kindergarten, and elementary, middle, and high schools, capable of accommodating about 1,800 students. Booyoung Town in Phnom Penh, where the school is being constructed, is set to become a mini new town residential complex with a total of 15,000 households. Currently, construction of a residential-commercial complex including 1,474 apartments has been completed and is scheduled for sale. With the establishment of this school, residents will be able to access educational facilities within Booyoung Town in Phnom Penh.

Booyoung Group is expanding its housing business in overseas markets. This move is interpreted as an effort to reduce dependence on domestic projects and diversify its business structure amid increasing uncertainties in the construction industry. To this end, the group is also conducting social contribution activities aimed at improving educational conditions in its business areas. In particular, in Cambodia, it has donated over 300 digital pianos for educational use featuring Korean graduation songs and about 40,000 electronic blackboards. Additionally, it has provided financial support including approximately 8.9 million USD for the construction of 300 elementary schools and about 550,000 USD for the establishment and development of a Taekwondo center.

To date, Booyoung Group has donated over 70,000 digital pianos and about 600,000 electronic blackboards to 26 countries including 14 Southeast Asian countries, Africa, and Latin America. Hang Chun Naron, Cambodia's Minister of Education, expressed gratitude, saying, "We thank Booyoung Group for helping improve Cambodia's housing conditions and build educational infrastructure through the construction of the 'Woojeong Cambodia School.'"

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