KB Prasac Bank Targets Cambodia Payment Market with Emart24 Partnership

At the 'Emart24 Cambodia 1st Store Opening Ceremony' held in Phnom Penh, Cambodia on the 21st, David Sambo, CEO of Saison Brother Holdings (second from right), Park Jin-soon, Chairman of Hanlim Construction Group (first from left), Om Samnang, President of KB Prasac Bank (third from left), and Kim Hyun-jong, Vice President of KB Prasac Bank (second from left) are taking a commemorative photo.

KB Kookmin Bank's Cambodian subsidiary, KB Prasac Bank, is targeting the local payment market.

According to KB Kookmin Bank on the 21st, KB Prasac Bank supports payment services at the first Emart24 store in Phnom Penh, Cambodia.

In February, KB Prasac Bank signed a business agreement with Saihan Partners and Emart24 to facilitate financial service linkage related to Emart24's entry into Cambodia and has been preparing to enter the local payment market. Saihan Partners plans to open 10 stores within this year and up to 100 stores within five years, starting with the first store in Cambodia, and KB Prasac Bank plans to expand payment service support accordingly.

Om Sam, President of KB Prasac Bank, said, "Starting with the first Emart24 store, we will sequentially apply advanced K-financial services such as QR payment systems, virtual account services, and firm banking to Emart24," adding, "We plan to expand our influence in the Cambodian payment market."

Gang Nam-chae, Vice President of KB Kookmin Bank's Global Business Group, stated, "Securing low-cost deposits through expanding QR payment market share is a core strategy to leap forward as the number one commercial bank in Cambodia."

This content was produced with the assistance of AI translation services.