Over 91 billion KRW in assets of "Prince Group" frozen in South Korean banks
According to a report by Jinse Finance, as disclosed by Red Star News, following the joint sanctions imposed by the UK and the US on Cambodia's "Prince Group" and its founder Chen Zhi, the South Korean government is also considering financial sanctions against the group and related organizations. It is reported that the Financial Intelligence Unit under the Financial Services Commission of South Korea plans to coordinate with relevant departments, with sanctions expected to be implemented within this month. Currently, five South Korean banks, including KB Kookmin Bank, have taken the lead in freezing assets of the "Prince Group" exceeding 91 billion KRW. Data shows that the "Prince Group" conducted 52 transactions at the Cambodian branches of these five South Korean banks, involving amounts exceeding 197 billion KRW.
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