Shinhan Khmer Bank, right, opened in October 2007, while Kookmin Bank Cambodia opened in May 2009. Both banks have been working hard to attract more Cambodian customers instead of members of the Korean expat community - the traditional clientele of Korean banks operating abroad. By Kim Joon-hyun
JoonAng Daily
Last in a series: Building a global financial brand
Until about 10 years ago, few Korean companies imagined that Cambodia - an impoverished Southeast Asian country ravaged by decades of internal conflicts - would become one of the top destinations for local banks looking to step onto the global stage.
But the situation has radically changed since then, and a growing number of Korean financial companies are starting to view the country as a promised land with vast growth potential.
With competition becoming increasingly cutthroat and even self-predatory in Cambodia, Korean firms are finding that localization is the key to survival and success in a market that some optimistic experts hail as the next Vietnam.
No comments:
Post a Comment