Category: Uncategorized

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!”

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.

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.

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.

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!”

Phnom Penh: On July 27, 2023, Woori Bank (Cambodia) Plc. Signed an Agreement to provided charity contribution to ChildFund Cambodia through ChildFund Korea on the Improvement Digital Competency in Education project in order to advance digital competency in Cambodian schools.

This project entitle for three years to enhance digital education and equipment in 21 selected schools in Phnom Penh, Kandal, and Kampong Thom province will be made possible by the budget. The initiative will assist more than 24,000 kids in learning the fundamentals of computer skill, including financial literacy and online safety, which will allow them to further expand their knowledge and skill to grow up as talented global citizens.

The ceremony was presided over by Mr. Kim Hong Ju, CEO of Woori Bank (Cambodia) Plc, Mr. Chan Narin, representative of Childfund Cambodia, Mrs. Unjoung Choi, representative of ChildFund Korea, Representative of Teach for Cambodia, and senior management from Woori Bank and Childfund Cambodia.

Said to the sign ceremony Mr. Kim Hong Ju stated “Promoting the financial and digital literacy in Cambodia is part of our bank’s Corporate Social Responsibility as to build more skillful and competent human resources, which is very demanding for today’s business in Cambodia and in the world.

Mr. Kim continued, “At the individual level, digital competency will provide opportunity for students to have better jobs. And at country level, the improvement of knowledge and skills in digital literacy will contributes to poverty reduction through employment growth”.

Mr. Chan Narin, representative of ChildFund Cambodia said “On behalf of ChildFund Cambodia, I am grateful to Woori Bank (Cambodia) Plc. for providing grant funding and ChildFund Korea for its coordination role in making this project happened, and I am proud that Woori Bank (Cambodia) Plc. has become a donor that can meaningfully contribute to improving the lives of children in Cambodia”.

Along with this project, we establish a variety of intervention to increase students enrolment in digital education in order to enhance their lifelong learning by improving accessibility, quality for digital education and facility building ICT lab and library in the schools including capacity building for teachers on ICT, financial literacy and online safety across all the 21 selected schools in Phnom Penh, Kandal and Kampong Thom province”  Mr.​​​​ Narin continued.

ChildFund Cambodia began its first development project in Cambodia in 2007 in Svay Rieng​ province, followed by Kratie in 2011 and Battambang in 2017; Phnom Penh, Kandal, and Kampong Thom are our next priorities to improve digital competency among students from primary to upper secondary school.

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!”

On June 30, 2023, Woori Bank (Cambodia) PLc. celebrated the Closing Ceremony of the Talent Incubation Program Generation 02 after completing the 3months training program to 45 incubates.

The event was presided over by Mr. Kim Hong Ju, Chief Executive Officer of Woori Bank Cambodia and Management Team at the Head Office of Woori Bank Cambodia.

Welcome to the event Mr. CEO said: “I am delighted to participate in this exciting event of the Closing Ceremony of the Talent Incubation Program Generation 02. This is one of the special occasions in celebrating you as our successful incubates Gen2 in our Bank”.

The Talent Incubation Program is one of our succession planning in our bank targeting students and fresh graduates from all universities in Cambodia. You all were selected to this program as our successful incubates by learning more from our bank to build up your long-term career development in our Bank. You are more special than other staff as you have chance to learn across all departments of Woori Bank that not everyone can get this great opportunity, Mr. CEO added.

The program began in April 2023 and completed in June 2023.​ It aims to support students and fresh graduates by providing them a comprehensive capacity-building program that will accelerate their professional growth and accomplishment at Woori Bank and for their future. Furthermore, it aims to give an opportunity for inexperienced fresh graduates who are eager to get exciting experience as their first job in the banking field.

Ms. Tha Sokvy, one of our excellent incubates, said: “Only Woori Bank provides this program” for students seeking experiences in banking sector with income to support their studies before beginning to work, and there is no other bank in Cambodia that provides this program previously. During the last three months, I have learned a lot, including knowledge across all departments at Woori Bank, teamwork skills (Lok Kru and Nak Kru in each department conducted a group discussion before concluding class), presentation skills, and other technical skills to use in actual work.

 Woori Bank Cambodia has completed the Talent Incubation Program for two generations already while the first batch was finished in July 2022.

This program is open to students in their second or higher year of university study. The selected participants were subjected to a 3-month training program that comprised New Staff Orientation training as well as courses from various departments of Woori Bank Cambodia. After completing the training program, all incubates will be assigned to our fascinating career path in order to prepare them for future management roles at the bank. This one-of-a-kind opportunity is only available through the Talent Incubation Program of Woori Bank Cambodia.

On June 12^th, 2023 Mr. Seok Mo Yoon, representing Woori Bank of Republic of Korea, and Mr. Hong Ju Kim, the CEO of Woori Bank (Cambodia) Plc.​ were honored to join the inauguration ceremony of a new building in Tang Krasang Health Care Center, under the high presidency of His Excellency Chea Chanto, Governor of the National Bank of Cambodia, which is located in Tang Krasang Village, Tang Krasang commune, Santuk district, Kampong Thom province. This new building, partially contributed by Woori Bank (Cambodia) Plc., would help improve healthcare services to the people in the district of Santuk and its surrounding areas.

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.​ The bank has 140 branches nationwide as of as of February 2023, employs over 4,200 staffs, and serves more than 417 thousand customers with​ total asset of USD 1.4 Billion, a loan portfolio of USD 1,182 million and deposit savings balances up to USD 345 million.

“Woori Bank, Your Smart Choice in Finance!”

On February 27, 2023, Woori Bank (Cambodia) Plc. and VERYWORDS have signed a MOU to provide charging stations to make more convenience on battery charging​ of VERYWORDS’S E-Mobility at the Woori Bank‘s branches.

E-Mobility is critical in bringing clean energy to the world of transportation. It electrifies vehicles by fuel substitution with electricity as the source of power for motor vehicles. E-Mobility is not only cost-effective, but it is also environmentally friendly.

The event was presided over by Mr. Kim Hong Ju, Chief Executive Officer of Woori Bank (Cambodia) Plc. and Mr. Kim Sung Woo, the representative from VERYWORDS, and participated by senior management and staff of both parties. The celebration was hosted at Woori Bank (Cambodia)’s Head Office in Phnom Penh.

During the sharing speech session, CEO of Woori Bank (Cambodia), Mr. Kim Hong Ju stated, “Woori Bank (Cambodia) has always worked to find financial solutions that could meet the needs of the Cambodian people under the slogan ‘grow together with Cambodians’. Within the framework of a MOU with VERYWORDS, Woori Bank (Cambodia) is pleased to provide a charging facility to make E-mobility more convenient. Woori Bank and VERYWORDS will also continue to collaborate on future services”.

“This MOU aims to support ESG (Environmental, Social & Governance) frameworks to respond to the Global Warming Crisis. We hope that this collaboration will be able to provide better support for Cambodia’s environment and society. At the same time, Woori Bank (Cambodia) will keep healthily and sustainably growing with Cambodians,” Mr CEO continued.

“We work on building an ecosystem of electric vehicles in which all Cambodians can actively participate in response to climate change,” CEO of VERYWORDS, Mr. Kim Sung Woo stated. With the collaboration of Woori Bank (Cambodia), there will be more charger infrastructure for Cambodia, beginning in Siem Reap and Phnom Penh. Moreover, VERYWORDS is establishing “Carbon Neutral Culture” platform which allows Cambodia people to actively participate alongside with us. And It’s such a pleasure that Woori Bank (Cambodia) will be a part of this frameworks with us”.

According to UNDP Cambodia, the Cambodia government has embedded Electric Vehicles (EV) into the country’s national transportation policy, with a focus on cities. Cities, with their rapid urbanization, provide the ideal environment for EVs, with paved roads, dependable sources of electricity, and an increasing number of charging stations. Cambodia’s Long-Term Carbon Neutrality Strategy, submitted to the United Nations Framework Convention on Climate Change (UNFCCC) last December, includes a pledge to have 40% of EV cars and urban buses and 70% of electric motorbikes by 2050.

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.​ The bank has 140 branches nationwide as of as of February 2023, employs over 4,200 staffs, and serves more than 417 thousand customers with​ total asset of USD 1.4 Billion, a loan portfolio of USD 1,182 million and deposit savings balances up to USD 345 million.

“Woori Bank, Your Smart Choice in Finance!”