Category: Uncategorized
The announcement on revision of Interest Rates effective from September 16, 2024!
Woori Bank would like to inform on the updates the new interest rate on Planned Savings and Fixed deposit products which are effective from September 16, 2024 onward.
Here are the details of our new interest rate:
1. Planned Savings Account
1.1 Individual Customer
| Plan Saving Account Interest Rate for Individual | ||
|---|---|---|
| Term (Month) | Annual Interest Rate * | |
| KHR | USD | |
| 3-5 | 3.25% | 3.00% |
| 6-8 | 4.00% | 3.50% |
| 9-11 | 4.50% | 3.75% |
| 12-17 | 5.50% | 5.00% |
| 18-23 | 5.60% | 5.10% |
| 24-35 | 5.75% | 5.25% |
| 36 | 6.00% | 5.50% |
| These rates are effective from September 16, 2024 until further notice. | ||
1.2 Corporate Customer
| Plan Saving Account Interest Rate for Corporate | ||
|---|---|---|
| Term (Month) | Annual Interest Rate * | |
| KHR | USD | |
| 3-5 | 3.25% | 2.50% |
| 6-8 | 4.00% | 3.50% |
| 9-11 | 4.50% | 3.75% |
| 12-17 | 5.50% | 5.00% |
| 18-23 | 5.60% | 5.10% |
| 24-35 | 5.75% | 5.25% |
| 36 | 6.00% | 5.50% |
| These rates are effective from September 16, 2024 until further notice. | ||
2.Planned Savings Plus
2.1 Individual Customer
| For Individual Customer | ||
|---|---|---|
| Term (month) | Annual Interest Rate for Individual | |
| Maturity Interest Withdrawal | ||
| KHR | USD | |
| 3-5 | 3.00% | 3.00% |
| 6-8 | 3.75% | 3.25% |
| 9-11 | 4.25% | 3.50% |
| 12-17 | 5.25% | 4.75% |
| 18-23 | 5.35% | 4.85% |
| 24-35 | 5.50% | 5.00% |
| 36 | 5.75% | 5.25% |
| These rates are effective from September 16, 2024 until further notice. | ||
2.2 Corporate Customer
| For Corporate Customer | ||
|---|---|---|
| Term (month) | Annual Interest Rate | |
| Maturity Interest Withdrawal | ||
| KHR | USD | |
| 3-5 | 3.00% | 2.25% |
| 6-8 | 3.75% | 3.25% |
| 9-11 | 4.25% | 3.50% |
| 12-17 | 5.25% | 4.75% |
| 18-23 | 5.35% | 4.85% |
| 24-35 | 5.50% | 5.00% |
| 36 | 5.75% | 5.25% |
| These rates are effective from September 16, 2024 until further notice. | ||
3.SOBOROS Deposit Account
3.1 Individual Customer
| Term (month) | Annual Interest Rate For Individual | |||
|---|---|---|---|---|
| Maturity Interest Withdrawal | Monthly Interest Withdrawal | |||
| KHR | USD | KHR | USD | |
| 3-5 | 4.35% | 3.60% | 4.10% | 3.35% |
| 6-8 | 5.10% | 4.60% | 4.85% | 4.35% |
| 9-11 | 5.60% | 4.85% | 5.35% | 4.60% |
| 12 | 6.60% | 6.10% | 6.35% | 5.85% |
| These rates are effective from September 16, 2024 until further notice. | ||||
3.2 Corporate Customer
| Term (month) | Annual Interest Rate For Corporate | |||
|---|---|---|---|---|
| Maturity Interest Withdrawal | Monthly Interest Withdrawal | |||
| KHR | USD | KHR | USD | |
| 3-5 | 4.35% | 3.60% | 4.10% | 3.35% |
| 6-8 | 5.10% | 4.60% | 4.85% | 4.35% |
| 9-11 | 5.60% | 4.85% | 5.35% | 4.60% |
| 12 | 6.60% | 6.10% | 6.35% | 5.85% |
| These rates are effective from September 16, 2024 until further notice. | ||||
4. Fortune Deposit Account
4.1 Individual Customer
| Annual Interest Rate for Individual | ||||||
|---|---|---|---|---|---|---|
| Term ( Month) | Maturity Interest Withdrawal | Monthly Interest Withdrawal | ||||
| KHR | USD | THB | KHR | USD | THB | |
| 1-2 | 3.00% | 3.00% | 0.50% | n.a | n.a | n.a |
| 3-5 | 4.25% | 3.50% | 1.00% | 4.00% | 3.25% | 0.75% |
| 6-8 | 5.00% | 4.50% | 1.75% | 4.75% | 4.25% | 1.50% |
| 9-11 | 5.50% | 4.75% | 2.50% | 5.25% | 4.50% | 2.25% |
| 12 | 6.50% | 6.00% | 3.75% | 6.25% | 5.75% | 3.50% |
| 13-17 | 6.60% | 6.10% | 3.75% | 6.35% | 5.85% | 3.50% |
| 18-23 | 6.60% | 6.10% | 3.75% | 6.35% | 5.85% | 3.50% |
| 24-35 | 6.75% | 6.25% | 4.00% | 6.50% | 6.00% | 3.75% |
| 36 | 7.00% | 6.50% | 4.00% | 6.75% | 6.25% | 3.75% |
| These rates are effective from September 16, 2024 until further notice. | ||||||
| Annual Interest Rate for Individual | ||
|---|---|---|
| Fortune Deposit Account (FDA) | Annually Interest Withdrawal | |
| Term (month) | KHR | USD |
| 24 months | 6.60% | 6.10% |
| 36 months | 6.85% | 6.35% |
| These rates are effective from September 16, 2024 until further notice. | ||
4.2 Corporate Customer
| Annual Interest Rate for Corporate | ||||||
|---|---|---|---|---|---|---|
| Fortune Deposit Account (FDA) | Maturity Interest Withdrawal | Monthly Interest Withdrawal | ||||
| Term (Month) | KHR | USD | THB | KHR | USD | THB |
| 1-2 | 2.50% | 2.00% | 0.50% | n.a | n.a | n.a |
| 3-5 | 4.25% | 3.50% | 1.00% | 4.00% | 3.25% | 0.75% |
| 6-8 | 5.00% | 4.50% | 1.75% | 4.75% | 4.25% | 1.50% |
| 9-11 | 5.50% | 4.75% | 2.50% | 5.25% | 4.50% | 2.25% |
| 12 | 6.50% | 6.00% | 3.75% | 6.25% | 5.75% | 3.50% |
| 13-17 | 6.60% | 6.10% | 3.75% | 6.35% | 5.85% | 3.50% |
| 18-23 | 6.60% | 6.10% | 3.75% | 6.35% | 5.85% | 3.50% |
| 24-35 | 6.75% | 6.25% | 4.00% | 6.50% | 6.00% | 3.75% |
| 36 | 7.00% | 6.50% | 4.00% | 6.75% | 6.25% | 3.75% |
| These rates are effective from September 16, 2024 until further notice. | ||||||
| Annual Interest Rate for Corporate | ||
|---|---|---|
| Fortune Deposit Account (FDA) | Annually Interest Withdrawal | |
| Term (month) | KHR | USD |
| 24 months | 6.60% | 6.10% |
| 36 months | 6.85% | 6.35% |
| These rates are effective from September 16, 2024 until further notice. | ||
5.Fortune Deposit Plus
| Maturity Interest Withdrawal | ||
|---|---|---|
| Terms | KHR | USD |
| 36 months | 6.90% | 6.40% |
| These rates are effective from September 16, 2024 until further notice. | ||
| Pre-maturity Period and Interest Rate | ||
|---|---|---|
| Terms | KHR | USD |
| <12 Months | 1% | 1% |
| 12 – 23 Months | 6.50% | 6.00% |
| 24 – 35 Months | 6.75% | 6.25% |
| These rates are effective from September 16, 2024 until further notice. | ||
For more info: 023 963 333 / 081 331 333
*Terms and Conditions Apply
Woori Bank sign MOU with National Bank of Cambodia to promote cross border payments between Cambodia and Republic of Korea!
On 16th May 2024 in the Cambodia-Korea Business Forum with the distinguished presence of Samdech Moha Borvor Thipadei HUN MANET, Prime Minister of Cambodia, at Seoul; a Memorandum of Understanding (MoU) was signed between the National Bank of Cambodia and Woori Bank (the parent company Woori Bank Cambodia) on “Cross-Border QR Code Payment between Cambodia and Republic of Korea” to promote and adopt cross border payments and remittance to be more convenient for Cambodian migrant workers.
Woori Bank, NICC, and Royal University of Phnom Penh Join Forces to Boost Cambodia’s Startup Ecosystem
Phnom Penh April 10, 2024 – Woori Bank, a leading financial institution committed to driving innovation and growth, is pleased to announce the signing of a Memorandum of Understanding (MOU) with the National Incubation Centre of Cambodia (NICC) and the esteemed Royal University of Phnom Penh. This agreement is to be formalized on, marks a significant step towards boosting Cambodia’s growing startup landscape.
With a steadfast commitment to empowering entrepreneurs and fostering digital transformation, Woori Bank is poised to deepen its strategic partnership with NICC. Through the establishment of robust financial infrastructure and special financial services, this collaboration aims to provide helpful support to NICC’s professors, mentors, trainers, trainees, and students.
H.E. Dr. Cheat Chealy, Rector of Royal University of Phnom Penh, expressed his enthusiasm, stating, “We are delighted to embark on this transformative journey with Woori Bank. Through this strategic partnership, we aim to equip Cambodian startups and entrepreneurs with the necessary tools and resources to thrive in an increasingly digital world.”
Mr. Cho Byung Kyu, President of Woori Bank Head quarter, echoed this sentiment, emphasizing the significance of the partnership in fostering entrepreneurship and technological advancement. He announced plans for Woori Bank Cambodia to establish a branch office with the concept of “The bank in University,” aiming to provide convenient banking services for professors, staff, students, and the public.
“In the digitalization, while the bank is seeking for the best Fintech solution, then we are staying in the same building so that we could support each other closely like Woori Bank will be able to give capital support to startup company in finance and NICC including its startup will support the Woori Bank for innovative solution”, he continued.
By leveraging Woori Bank’s extensive resources and expertise, NICC endeavors to catalyze the digital transformation of startup companies and foster an environment conducive to innovation and sustainable growth. This collaboration signifies a shared commitment to driving socioeconomic development and fostering a culture of entrepreneurship in Cambodia.
Dr. Srun Sovila, Director of NICC, stated the significance of the partnership, “Thanks to Woori bank for trust in NICC and step to the official MOU signing ceremony today. Together, we will embark on a journey of collaboration, innovation, and growth, making a positive impact on the startups and entrepreneurial landscape of Cambodia. To all the entrepreneurs and innovators present here today, I urge you to seize the opportunities that this partnership brings onwards. Let us work together to harness the power of innovation, startups and entrepreneurship to drive positive change and create a brighter future for Cambodia.”
RUPP and Woori Bank have a good cooperation since January 2023, Woori Bank has provided 100 scholarships to undergraduate students of RUPP from key specialized subjects which include the newly established program on sustainable urban planning and development (DSUPD), Economic Development (Eds), Community Development (CDs), Computer Science, International Business Management (IBM), and Mathematics.
About Woori Bank:
Woori Bank (Cambodia) Plc. has milestone significant achievements in Cambodia for 30 years. With beginning of the funding program in 1990 and getting official license to operate as a microfinance institution in 2004. Then, updating license in 2011 to become a micro-deposit taking finance institution as well as merging with Woori Finance Cambodia Plc. in 2020 to broaden network. Additionally, the National Bank of Cambodia has approved a license as a commercial bank since November 2021 and officially launched in January 2022, enabling Woori Bank (Cambodia) Plc. to provide the market with full-fledged commercial bank’s products and services.
As of as of December 2023, the bank has 140 branches nationwide, employs over 4,200 staffs, and serves more than 455 thousand customers with total asset of USD 1.4 Billion, a loan portfolio of USD 1,212 million and deposit savings balances up to USD 434 million. “Woori Bank, Your Smart Choice in Finance!”
About NICC:
National Incubation center of Cambodia (NICC) was established in purpose of supporting to Cambodia startup by providing training, Research and Technology Innovation, Information and Communication. The center is also a linkage between entrepreneurs, startups, students, and enterprises to discuss in purpose of finding out the best solution.
About Royal University of Phnom Penh:
The Royal University of Phnom Penh is a premier academic institution dedicated to excellence in education, research, and community engagement. With a proud tradition of fostering intellectual curiosity and innovation, the university plays a pivotal role in shaping the future of Cambodia’s workforce and society.
Check Clearing Service, More payment options with trust and secure!
With Check Clearing Service of Woori Bank, all customers can deposit to Woori Bank’s account with receiving check from any local banks. This service will provide more choices for Woori Banks’ customers to make it easier and better for their business requirement.
Product feature:
- Check deposit and accept from other local bank’s check
- Available Currency: KHR, USD
Applies to the following 33 branch offices of Woori Bank (Cambodia) Plc:
| No | Branch Name | Address |
|---|---|---|
| 1 | Head Office | Building № 398, Preah Monivong Blvd., Phum 1, Sangkat Boeng Keng Kang Ti Muoy, Khan Boeng Keng Kang, Phnom Penh Capital. |
| 2 | Russey Keo - Tuol Sangkae 1 | Phum Tuol Sampov, Sangkat Tuol Sangke 1, Khan Russey Keo, Phnom Penh |
| 3 | Russey Keo - Kilomaetr Lekh Prammuoy | № 1A, National Road № 5, Phum Kraul Kor, Sangkat Kilomet Lekh Prammuoy, Khan Russey Keo, Phnom Penh |
| 4 | Pur SenChey - Kakab 1 | № 338, Russian Federation Blvd., Phum Paprak Khang Cheung, Sangkat Kakab 1, Khan Pur SenChey, Phnom Penh. |
| 5 | Tuol Kouk - Boeng Kak Ti Muoy | Lot № 18 & 19, Street № 289, Phum 11, Sangkat Boeng Kak Ti Muoy, Khan Tuol Kouk, Phnom Penh |
| 6 | Saensokh - Kouk Khleang | № 11 & 13, Phnom Penh-Hanoi Friendship Blvd, Phum Roung Chakr, Sangkat Kouk Kleang, Khan Saensokh, Phnom Penh |
| 7 | Doun Penh - Phsar Thmei Ti Bei (Central Market) | № 70E0, Street 136 corner Street 53, Phum Phum 1, Sangkat Phsar Thmei Ti Bei, Khan Doun Penh, Phom Penh |
| 8 | Chbar Ampov - Nirouth | National Road № 1, Phum Boeng Chhuk, Sangkat Nirouth, Khan Chbar Ampov, Phnom Penh |
| 9 | Mean Chey - Stueng Mean Chey 3 | № 19&21 EoE1, Veng Sreng Steet, Group 1, Phum Domnak Thom 5, Sangkat Stueng Mean Chey 3, Khan Mean Chey, Phnom Penh |
| 10 | Chamkar Mon - Phsar Daeum Thkov | Building № 119B, Street № 271, Phum Phum 3, Sangkat Phsar Doeum Thkov, Khan Chamkarmon, Phnom Penh |
| 11 | Mean Chey - Stueng Mean Chey 1 | Nº 6A & 7A, Samdech Preah Monireth Blvd., PhumTrea, Sangkat Stueng Mean Chey 1,Khan Mean Chey, Phnom Penh |
| 12 | Chbar Ampov - Chbar Ampov Ti Pir | № 610B, National Road № 1, Phum Deum Slaeng, Sangkat Chbar Ampov Ti Pir, Khan Chbar Ampov, Phnom Penh. |
| 13 | Boeng Keng Kang - Tuol Svay Prey Ti Pir (Olympic) | № 131, Samdech Monireth Blvd. corner Street 310, Phum Phum 10, Sangkat Tuol Svay Prey Ti Pir, Khan Boeng Keng Kang, Phnom Penh |
| 14 | Chraoy Chongvar - Preaek Lieb | Building № JMR 45 & 47, National Road № 6A, Phum Preaek Lieb, Sangkat Preaek Lieb, Khan Chraoy Chongvar, Phnom Penh |
| 15 | Prampir Meakkakra - Veal Vong | № 138D, Street № 215, Sangkat Veal Vong, Khan Prampir Meakkakra, Phnom Penh |
| 16 | Pur SenChey - Chaom Chau 2 | № A21 & A23, Chaom Chau Blvd., Phum Chrey Kaong, Sangkat Chaom Chau 2, Khan Pur SenChey, Phnom Penh |
| 17 | Doun Penh - Chey Chummeah (Riverside) | № 387, Preah Sisovath Blvd., Sangkat Chey Chumneah, Khan Doun Penh, Phnom Penh |
| 18 | Seansokh -Tuek Thla | Russian Federation Blvd., Phum Chong Thnal Khang Kaeut, Sangkat Tuek Thla , Khan Saensokh, Phnom Penh |
| 19 | Ponhea Lueu - Phsar Daek | National Road № 5, Mlu Meun Village, Phsar Daek Commune, Ponhea Lueu District, Kandal Province |
| 20 | Ponhea Lueu - Vihear Luong | Building № 87, National Road № 5, Tep Pranam Village, Vihear Luong Commune, Ponhea Lueu District, Kandal Province |
| 21 | Praek Pnov - Preaek Phnov | Phum Kandal, Sangkat Preaek Phnov, Khan Preae Phnov, Phnom Penh |
| 22 | Pur SenChey - Chaom Chau 3 | № 295, National Road № 4, Phum Chumpu Voan 2, Sangkat Chaom Chau 3, Khan Pur SenChey, Phnom Penh |
| 23 | Russey Keo - Svay Pak | National Road № 5, Phum Lu, Sangkat Svay Pak, Khan Russey Keo, Phnom Penh |
| 24 | Dangkao - Dangkao | Street № 217, Phum Ta Lei, Sangkat Dangkao, Khan Dangkao, Phnom Penh |
| 25 | Kien Svay - Kokir | № 330B & 330C, National Road № 1, Kokir Village, Kokir Commune, Kien Svay District, Kandal Province |
| 26 | Leuk Daek - Kampong Phnum | National Road № 1, Ampil Tuek Village, Kampong Phnum Commune, Leuk Daek District, Kandal Province |
| 27 | Doun Penh - Chakto Mukh (Preah Monivong) | № 322E0 - E3, Preah Monivong Blvd., Phum 7, Sangkat Chakto Mukh, Khan Doun Penh, Phnom Penh |
| 28 | Angk Snuol - Baek Chan | National Road № 4, Trapeang Krasang Village, Baek Chan Commune, Angk Snuol District, Kandal Province. |
| 29 | Khsach Kandal - Preaek Ta Kov | Street № 380, Preaek Lvea Village , Preaek Ta Kov Commune, Khsach Kandal District, Kandal Province |
| 30 | Khsach Kandal - Preaek Ta Meak | Preaek Ta Meak Village, Preaek Ta Meak Commune, Khsach Kandal District, Kandal Province |
| 31 | Mukh Kampul - Preaek Anhchanh | № 271, National Road № 6A, Kraom Village, Preaek Anhchanh Commune, Mukh Kampul District, Kandal Province |
| 32 | Mukh Kampul - Preaek Dambang | La Edth Village, Preaek Dambang Commune, Mukh Kampul District, Kandal Province |
| 33 | Tuol Kouk - Tuek L'ak Ti Bei (Phsar Heng Ly) | № 10CED, Street № 271, Phum 11, Sangkat Tuek L'ak Ti Bei, Khan Tuol Kouk, Phnom Penh |
About Woori Bank
Woori Bank (Cambodia) Plc. has milestone significant achievements in Cambodia for 30 years. With beginning of the funding program in 1990 and getting official license to operate as a microfinance institution in 2004. Then, updating license in 2011 to become a micro-deposit taking finance institution as well as merging with Woori Finance Cambodia Plc. in 2020 to broaden network. Additionally, the National Bank of Cambodia has approved a license as a commercial bank since November 2021 and officially launched in January 2022, enabling Woori Bank (Cambodia) Plc. to provide the market with full-fledged commercial bank’s products and services.
As of as of December 2023, the bank has 140 branches nationwide, employs over 4,200 staffs, and serves more than 455 thousand customers with total asset of USD 1.4 Billion, a loan portfolio of USD 1,212 million and deposit savings balances up to USD 434 million. “Woori Bank, Your Smart Choice in Finance!”
Woori Bank and ChildFund donated four brand-new digital labs and digital libraries to three Phnom Penh schools
Phnom Penh, Cambodia – January 30, 2024 – Today, teachers and students at Chea Sim Chroy Chongva High School, Chroy Chongva Primary School, and Wat Mongkul Serey Kien Khlaing Primary School, received brand-new digital libraries and labs from Woori Bank (Cambodia) Plc. via ChildFund and Teach for Cambodia, all under the auspices of the Ministry of Education.
This is not only about computers, equipment, and books; it’s about unlocking a universe of knowledge, bridging the digital divide, and providing students with the tools to navigate the future. Cutting-edge technology transforms classrooms into vibrant hubs of learning, empowering students with essential computer skills, financial literacy, and online safety knowledge, nurturing responsible and globally aware digital citizens.
This is the launchpad for the next chapter of digital education in Cambodia, a chapter where every child has the opportunity to learn, grow, and flourish in the digital landscape.
With resounding joy, H.E. Ho Sambo, Under Secretary of State, high representative of H.E. Dr. Hang Chuon Naron, Deputy Prime Minister, Minister of Education, Youth and Sport, declares this inauguration a momentous feat towards realizing their vision. He hails these upgraded facilities as beacons of progress, empowering students with the digital prowess they need to excel in the 21st century and propel Cambodia’s future into a dazzling era of advancement.
Mr. Hong Ju Kim, Chief Executive Officer of Woori Bank Cambodia, believes that simply donating resources wouldn’t do justice to the project’s potential. Instead, Woori Bank sees this as a strategic investment in Cambodia’s future. Witnessing the students’ eager faces fuels their unwavering commitment to empower Cambodian youth as responsible digital citizens.
Mr. Prashant Verma, ChildFund Cambodia Country Director: “The new infrastructure would act as digital education compound to build human resources in digital education covering fundamental of finance and online safety, so that Cambodian children for generations would benefit for their future growth.”
Mr. Youngkey Hwang, Chief Executive Officer of ChildFund Korea: “At ChildFund Korea, we believe every child deserves a chance to shine. These upgraded facilities are more than just labs and libraries; they are testaments to our deep commitment to nurturing the dreams and potential of Cambodian students.”
The inauguration of these digital labs and libraries ignites a spark of immense responsibility and unyielding enthusiasm in Mr. Siv Monirath, CEO of Teach For Cambodia. He acknowledges this as just the genesis of a transformative journey, and reaffirms his unwavering commitment to ensuring every student unlocks their digital potential and leverages these resources to soar to new heights.
This initiative marks a pivotal moment in Cambodia’s educational landscape, one where collaboration, innovation, and unwavering commitment pave the way for a brighter digital future for every child.
About Woori Bank (Cambodia) Plc.
Woori Bank (Cambodia) Plc. has milestone significant achievements in Cambodia for 30 years. With beginning of the funding program in 1990 and getting official license to operate as a microfinance institution in 2004. Then, updating license in 2011 to become a micro-deposit taking finance institution as well as merging with Woori Finance Cambodia Plc. in 2020 to broaden network. Additionally, the National Bank of Cambodia has approved a license as a commercial bank since November 2021 and officially launched in January 2022, enabling Woori Bank (Cambodia) Plc. to provide the market with full-fledged commercial bank’s products and services.
As of as of December 2023, the bank has 140 branches nationwide, employs over 4,200 staffs, and serves more than 455 thousand customers with total asset of USD 1.4 Billion, a loan portfolio of USD 1,212 million and deposit savings balances up to USD 434 million. “Woori Bank, Your Smart Choice in Finance!”
Woori Bank Partners with Cambodia and AFoCo to Launch Forest Carbon Emission Reduction Project
Phnom Penh, Cambodia: On January 16, 2024, Woori Bank signed a multilateral business agreement with the Forestry Administration of Cambodia and the Asian Forest Cooperation Organization (AFoCo) to launch a forest carbon emission reduction project in Cambodia. The project, which will run for 30 years, aims to promote REDD+ (Reducing Emissions from Deforestation and Forest Degradation) and global ESG (Environmental, Social, and Governance) management.
The project will involve the conservation of a pristine forest area of about 30,213 hectares in the northern part of Cambodia, along the Mekong River. This area is home to about 220 wildlife species and is threatened by ecological destruction from activities like deforestation and land clearing. By preserving the forests, Woori Bank hopes to create a harmonious ecosystem for both nature and people, by reducing greenhouse gas emissions by 2.6 million tons (an average of 88,000 tons annually) and improving the living standards of the rural mountain communities.
Woori Bank is the first Korean bank to implement the REDD+ project, which is a global initiative to reduce greenhouse gas emissions by preventing forest conversion and degradation in developing countries, thereby preserving forests and promoting carbon accumulation. Woori Bank plans to reinvest all the proceeds from the “carbon credit” sales issued during the project period into the project itself, to ensure sustainable preservation and management of the ecosystem and the forests.
“We are proud to be part of this project, which will be an exemplary case for preserving Cambodia’s ancient forests and for fostering coexistence between the ecosystem and the local people,” said Cho Byung-kyu, the president of Woori Bank headquarter, Korea. “In the future, Woori Bank will continue to practice various global ESG management strategies such as lowering greenhouse gas emissions and preserving biodiversity,” He added.
About Woori Bank
Woori Bank is a leading Korean bank that provides a wide range of financial services to customers in Korea and overseas. Woori Bank entered the Cambodian financial market in 2014 by acquiring a microfinance institution (MFI). Since then, it has expanded its presence by acquiring a local deposit MFI and a finance company, and establishing a local branch as it transformed into a commercial bank in 2022. Woori Bank offers various services such as savings, loan, foreign exchange, digital banking, debit and credit card for individual and business, as well as other financial services to serve to the local market.
As of December 2023, in Cambodia the bank has 140 branches nationwide, employs over 4,200 staffs, and serves more than 455 thousand customers with total asset of USD 1.4 Billion, a loan portfolio of USD 1,212 million and deposit savings balances up to USD 434 million.
Woori Bank Cambodia has successfully completed 3-years in row independent assessment of the Swift Customer Security Programme
We are delighted to announce that Woori Bank Cambodia has successfully completed an independent assessment of the Swift Customer Security Programme (CSP), reaffirming our commitment to the highest standards of cybersecurity.
This assessment signifies our dedication to securing your financial transactions and ensuring the confidentiality and integrity of your information. Woori Bank Cambodia has rigorously evaluated and enhanced its systems to meet the stringent security measures set by the Swift CSP.
Our priority has always been the safety of your financial transactions, and this achievement reinforces our position as a trustworthy financial partner. As we continue to evolve in the digital era, Woori Bank Cambodia remains steadfast in implementing robust security measures to safeguard your assets and maintain your trust.
Thank you for choosing Woori Bank Cambodia as your banking partner. We look forward to serving you with the utmost dedication and providing you with secure and reliable financial services.
Woori Bank and ChildFund Cambodia join hands to improve digital competency in education with Government
Phnom Penh, 22nd September 2023 – In collaboration with Woori Bank (Cambodia) Plc., ChildFund Cambodia, Teach For Cambodia, the Ministry of Education, Youth, and Sport launched a project today to close the digital divide in education. This initiative will revolutionize digital competency in Cambodian schools and provide equal opportunities for students to thrive in the digital age.
Supported by Woori Bank (Cambodia) Plc. through ChildFund Korea, the 3 years project will enhance digital education and infrastructure in 21 carefully selected schools across Phnom Penh, Kandal, and Kampong Thom provinces. By providing access to cutting-edge technology, the initiative aims to equip more than 24,000 students and total estimated direct participants will be 64,613 included teachers, parents and government officers with fundamental computer skills, financial literacy, and online safety knowledge. This holistic approach will create a generation of talented global citizens prepared to navigate the digital landscape.
ChildFund Cambodia, as the primary organization responsible for project implementation, will work closely with Teach for Cambodia and local duty bearer. Through collaborative networking, capacity building, and government and community engagement, the project’s sustainability and impact will be ensured
Excellency Im Koch, the Secretary of State of the Ministry of Education, Youth and Sport, acknowledged the project’s significance, stating, “This project perfectly aligns with our Education Strategic Development Plan and will play a pivotal role in equipping our students with essential ICT competencies. We deeply appreciate the dedication of Woori Bank (Cambodia) Plc., ChildFund Cambodia and their partners in advancing digital literacy and education in our country.”
Mr. Hong Ju Kim, Chief Executive Officer of Woori Bank, expressed his pride in supporting this pioneering initiative led by ChildFund Cambodia. He believes that empowering students with digital competencies will not only unlock their potential but also enable them to thrive in an increasingly connected world.
Mr. Prashant Verma, ChildFund Cambodia Country Director, expressed his excitement about the project’s launch, stating, “Schools’ ICT infrastructure and resources are limited in target areas. Teachers digital literacy and capacity to utilize digital resources and teaching methodology is limited despite the MoEYS inclusion of ICT within the curriculum.”
Ms. Namhee Yoon, representing ChildFund Korea, echoed the organization’s commitment to improving the lives of children and fulfilling their rights. She emphasized ChildFund Korea’s unwavering support for ChildFund Cambodia’s project, expressing excitement about the positive impact it will undoubtedly have on the lives of Cambodian children.
–ends-
For more information, or to arrange an interview, please contact:
Pisey Khun, Communications Coordinator, ChildFund Cambodia
Phone: 012 469 007
Email: khunpisey@childfund.org.kh
NOTES TO EDITORS:
About Woori Bank (Cambodia) Plc.
Woori Bank (Cambodia) Plc. has milestone significant achievements in Cambodia for years. With beginning of the funding program in 1990 and getting official license to operate as a microfinance institution in 2004. Then, updating license in 2011 to become a micro-deposit taking finance institution as well as merging with Woori Finance Cambodia Plc. in 2020 to broaden network. Additionally, the National Bank of Cambodia has approved a license as a commercial bank since November 2021 and officially launched in January 2022, enabling Woori Bank (Cambodia) Plc. to provide the market with full-fledged commercial bank’s products and services. As of as of June 2023, the bank has 140 branches nationwide, employs over 4,200 staffs, and serves more than 437 thousand customers with total asset of USD 1.4 Billion, a loan portfolio of USD 1,180million and deposit savings balances up to USD 355 million.
“Woori Bank, Your Smart Choice in Finance!”
About ChildFund Cambodia
ChildFund Cambodia is the representative office of ChildFund Australia – an independent and non-religious international development organisation that works to reduce poverty for children in the developing world. ChildFund began working in Cambodia in 2007, and works in partnership with children, their communities and local institutions to create lasting change, respond to humanitarian emergencies and promote children’s rights. Its community development programs are in the in the areas of child protection and resilience, quality education, sustainable livelihoods, improved local governance, child nutrition, water and sanitation, and youth empowerment. Improving early grade reading performance through technology interventions, strengthening national community-based child protection mechanisms and child‐focused emergency response are focus areas for the organisation.
About ChildFund Korea
ChildFund Korea was established in 1948. Currently, ChildFund Korea is one of the most influential child welfare organizations in Korea and an active and major member of ChildFund Alliance, which has an international network with 11 members including Australia, Canada, France, Germany, Ireland, Japan, New Zealand, Spain, Sweden, and the USA. ChildFund Korea works for children, their families, and communities with its partners in Cambodia, Bangladesh, Laos, Nepal, Myanmar, Viet Nam, Ethiopia, Uganda, Kenya, and other countries.
About Teach For Cambodia
Teach For Cambodia is an independent not-for-profit organization aimed at solving educational inequity in Cambodia. By recruiting dynamic university graduates and professionals as teachers in high-need schools for an initial two-year period, they aim to build a new generation of highly effective teachers and leaders. Their vision is for all Cambodian children to have access to quality education, support, and opportunities, and their mission is to create sustainable solutions to address socioeconomic challenges, build school capacity, and promote national identity. Teach For Cambodia works closely with the Ministry of Education, Youth and Sport of Cambodia and is a member of Teach For All, a global education network.
Woori Bank Cambodia has officially launched its Visa debit card to the market
On August 28, 2023: Woori Bank Cambodia celebrate the launching ceremony on its Visa debit card to the market at Woori head office. The event was presided over by Mr. Kim Hong Ju, CEO of Woori Bank Cambodia, and Mrs. Ivana Tranchini, Country Manager of VISA Cambodia.
WOORI VISA CARD was introduce to the market with three types such as Visa Classic, Visa Platinum, and Visa Gold. Moreover, the launchings come along with exciting offers to cards holder, which is starting from early September.
Opening to the event Mr. Kim Hong Ju, CEO of Woori Bank Cambodia shared the meaningful speech that “This is another important stepping stone for Woori Bank (Cambodia) to achieve our business goal as well as providing more variety of products and services to our customers. Our team have been working hard together for months, and today we are proud of our team to successfully roll out this international card scheme into market.”.
“To celebrate this memorable moment, and to proudly announce our WOORI VISA CARD to the market, we would like to offer a special promotion to our cardholders with 10% cashback promotion for 3 months from September to November 2023.” Mr, Kim Continued.
Mrs. Ivana Tranchini, Country managers of Visa card Cambodia spoke out to ceremony that “We know that for Cambodians we still have a lot of cash in our economy and over 90% of Cambodians still use cash everyday. But we also know that many people want a digital economy and they absolutely want to be able to use cards and other forms of digital payment which are more secure and more innovative digital payment and let them reach the world”.
She continued ”For the long term, I really hope that we can continue to work together to not just go from launch to launch but really growing portfolio obviously your business and helping your customers reach the world is a really important thing for the country and for your customers”.
This release demonstrates Woori Bank Cambodia’s potential and continuous development of financial solutions to fulfill the needs and modern lifestyle of our valued customers. With the high commitment, Woori Bank Cambodia will roll out our Visa Credit Card and Visa Virtual Card in a near future.
About Woori Bank (Cambodia) Plc.
Woori Bank (Cambodia) Plc. has milestone significant achievements in Cambodia for 30 years. With beginning of the funding program in 1990 and getting official license to operate as a microfinance institution in 2004. Then, updating license in 2011 to become a micro-deposit taking finance institution as well as merging with Woori Finance Cambodia Plc. in 2020 to broaden network. Additionally, the National Bank of Cambodia has approved a license as a commercial bank since November 2021 and officially launched in January 2022, enabling Woori Bank (Cambodia) Plc. to provide the market with full-fledged commercial bank’s products and services.
As of as of June 2023, the bank has 140 branches nationwide, employs over 4,200 staffs, and serves more than 437 thousand customers with total asset of USD 1.4 Billion, a loan portfolio of USD 1,180million and deposit savings balances up to USD 355 million.
“Woori Bank, Your Smart Choice in Finance!”
+855 23 963 333
