South Korea’s Mugungwha Trust Targets Investment in Cambodia’s Expanding Trust Sector

• 13 September 2024
• Local News
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Mugungwha Trust Co., Ltd., a leading South Korean trust company, has announced plans to invest in Cambodia’s trust sector, aiming to contribute to the country’s economic growth and sector expansion.

The company’s President, Mr. Oh Chang-seok, expressed this commitment during a meeting with Samdech Techo Hun Sen on 10 September 2024 in Seoul, Republic of Korea.

Mr. Oh Chang-seok highlighted that Mugungwha Trust, specializing in urban development and project management, has been studying Cambodia’s trust sector for over a decade.

He noted the firm’s readiness to work with Cambodia’s financial, banking, and legal sectors to help grow the trust market. He also emphasized that this investment could significantly boost Cambodia’s economic development and enhance partnerships with local companies.

In response, Samdech Techo Hun Sen acknowledged the challenges within Cambodia’s trust sector, particularly compared to its securities market. He urged the company to conduct thorough studies of the legal landscape and partner with local companies actively involved in legal and regulatory matters, also suggesting the exploration of broader investment opportunities beyond the public sector.

Drawing on Korea’s success story, Samdech Techo Hun Sen highlighted how the development of Korea’s trust sector played a pivotal role in its transformation from a poor nation to a developed country, emphasizing the potential for similar growth in Cambodia.

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