The grand opening ceremony of Booyoung Khmer Bank was held at Intercontinental Hotel on 16 July, 2008,which presided over by His Excellency Sok An, the minister of the Office of the council of the Ministry.
His Excellency Sok An stated that the presence of Booyoung Khmer Bank is a crucial part to develop economy and investment in Cambodia. He hopefully added that Booyoung will run smoothly in a harmonious and developing country which is governed intelligently by Prime Minister Hun Sen.
H.E Chea Chan To, the President of National Bank of Cambodia, gave a statement that he was delighted to present in the grand opening ceremony of Booyoung Khmer Bank, of which the location is along Norodom Blvd, in the area that pile up together with public department, Banking institution, and other private companies in Cambodia. He explained that Booyoung Khmer Bank is the 22nd Commercial Bank in Cambodia and the 3rd Commercial Bank in range of 100 % Capital from Korea. This bank established at the time that banking sector in Cambodia is rapidly progressing both its size and extend of operation in these following years; especially, at the time that Cambodia’s economy has been developing, stabilizing, and increasing over the expectation. The coming of Booyoung Khmer Bank into Cambodian Market at this time illustrates confidence of Korean investor on banking sector in Cambodia.
He also stated that both the government and the National Bank of Cambodia is needing bankers who have good enterprise, competence, guidance, and credit management with high production in order to allocate its resource effectively, not just a creditor.
The Korean Ambassador stated that these 6 following years, Cambodia economy has increased by 10 % based on peacefully political stability. Korea and Cambodia have suddenly tied good relationship over this course of 10 years. Booyoung Co., Ltd has been the first leading company on apartment and house construction for 20 years in Korea, which is currently improving considerably in the 21st century and it is a model company that circulate its profit back to society. Certainly in Cambodia, Booyoung donated 3 million USD to reform the education system in Cambodia and 7 millions USD for constructing 300 schools in Cambodia.