A South Korean lawmaker has revealed that Cambodia’s Prince Group, under international sanctions for serious crimes, funneled over $66 million through South Korean bank branches in Cambodia, deepening Seoul’s resolve to combat transnational criminal networks.
Kang Min-kook, a member of the opposition People Power Party, disclosed on Monday that data from the Financial Supervisory Service showed Prince Group conducted 52 financial transactions totaling more than $143.8 million at five South Korean bank branches in Cambodia. Over $66 million of these funds remain deposited.
The deposits include approximately $40.9 million with KB Bank, $19.7 million with Jeonbuk Bank, and $5.1 million with Woori Bank. Prince Group is widely scrutinized for alleged links to severe crimes, including kidnapping, torture, and murder, as well as operating global scam networks.
Both the United States and the United Kingdom have already imposed sanctions on the conglomerate. U.S. prosecutors have also filed charges against the group’s chairman, Chen Zhi, for alleged fraud and money laundering.
The South Korean government is now considering implementing its own sanctions against Prince Group. This measure would form part of a broader crackdown on transnational organized crime.
This financial disclosure follows a significant development last weekend. Sixty-four South Korean nationals, detained in Cambodia for their alleged involvement with online scam gangs, were repatriated on a charter flight and now face criminal investigations in South Korea.
The mass repatriation was prompted by widespread public outrage over the recent torture and murder of a South Korean student. The student had been lured into Cambodia by criminal organizations.
Days prior to the repatriation, a South Korean government team was dispatched to Cambodia. Their mission was to assist citizens entangled with local criminal enterprises, including the Prince Group.