Prince Group Behind Cambodian Crime Holds 91.2 Billion Won in Korean Banks [2025 Audit]

Prince Bank located in the headquarters building of Prince Group in Phnom Penh, Cambodia. Photo by Yonhap News

It has been confirmed that domestic financial institutions in South Korea have conducted financial transactions with Cambodia’s Prince Group, which has been sanctioned by the United States and the United Kingdom on charges including human trafficking and illegal confinement.

According to the “Status of Operations of Cambodian Subsidiaries, Branches, and Offices of Domestic Financial Institutions” submitted by the Financial Supervisory Service to Assemblyman Kang Min-guk of the National Assembly’s Political Affairs Committee on October 20, five Cambodian local subsidiaries of domestic financial institutions-KB Kookmin Bank, Jeonbuk Bank, Woori Bank, Shinhan Bank, and IM Bank-conducted a total of 52 transactions with Prince Group. The total transaction amount reached 197.045 billion won.

Jeonbuk Bank conducted the largest number of transactions. The bank made a total of 47 fixed deposit transactions (with 40 of them having matured and been withdrawn), amounting to 121.696 billion won.

Currently, more than 90 billion won of Prince Group’s funds remain deposited in four local subsidiaries of domestic financial institutions. Specifically, 56.659 billion won with Kookmin Bank, 26.85 billion won with Jeonbuk Bank, 7.021 billion won with Woori Bank, and 645 million won with Shinhan Bank, totaling 91.175 billion won of Prince Group’s funds held by domestic banks.

Assemblyman Kang stated, “The Financial Services Commission must consult with the Cambodian government to establish measures regarding the possibility of freezing illicit funds from Cambodian criminal organizations,” adding, “The Financial Intelligence Unit (FIU) must ensure that individuals involved in criminal activities are clearly designated as targets for financial transaction sanctions.”