News

South Korean firm faces off with tycoon Kok An over land

A group of South Koreans and Cambodians employed by a Korean developer faced off with an excavator and a bulldozer clearing land for a wealthy local businessman in a dispute over 6 hectares of land in Phnom Penh’s Russei Keo district on Wednesday. ...

Aun Pheap
https://www.cambodiadaily.com/news/south-korean-firm-faces-off-with-tycoon-kok-an-over-land-94483/

CamKo struggles to move beyond crash

From the start, the project seemed impossibly ambitious: A $2-billion South Korean satellite city—complete with condominiums, office space, luxury villas, a shopping mall, health clinics, banks and an airport—on the outskirts of Phnom Penh. Claiming the land was not properly appraised, and that the decision ...

George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/camko-struggles-to-move-beyond-banks-collapse-71320/

Camko City starts third phase

The Now World City company is starting construction of its third phase at Camko City after its satellite city had suspended operations for a while. Kim Duk Kon, the vice president of World City, said that the new project included building luxury villas, with 140 houses ...

Siv Meng
http://www.phnompenhpost.com/real-estate/camko-city-starts-third-phase

Koomkin bank takes Camko City to court

The foreign commercial arbitration case between South Korean Kookmin Bank and World City Asset Management and World City, two real-estate development firms, has been received by the Cambodian Court of Appeals. World City Asset Management received a loan from Kookmin bank in Korea in 2007 to ...

http://www.phnompenhpost.com/index.php/2012092058819/Business/kookmin-bank-takes-camko-city-to-court.html

Camko City restarts after one-year hiatus

Construction at Camko City, an unfinished, US$2 billion satellite city in northwestern Phnom Penh, has resumed after at least one sentence connecting the mega-project’s chief executive with a Korean banking scandal was dropped. , the company behind Camko City, has resumed the construction of retail space ...

http://www.phnompenhpost.com/index.php/2012082858313/Business/camko-city-restarts-as-banking-scandals-drop.html

Seoul Court Releases CEOs Tied to Local Projects

The chief executives of two companies behind major developments in Cambodia-who were jailed in Seoul in February for their part in a major South Korean financial scandal-have been partially cleared and released, according to a court official. Lee Sang-ho – the CEO of World City Co. ...

Appeal Begins in Cambodia-Related Fraud Case

An appeal hearing in South Korea involving the CEOs behind two major property projects in Cambodia involved in a massive fraud scandal is scheduled to begin today, an official at the court in Seoul said. In February, a Seoul court sentenced a raft of executives of ...

Cambodia-Linked Investors Sentenced in Seoul

The chief executives of the firms behind two large-scale real-estate projects in Cambodia have been sentenced to jail in Seoul for obtaining illegal loans and using the money to finance fictitious companies abroad, according to a South Korean court official. The two executives were among a ...

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