Woori Bank (Cambodia) Plc., a prominent South Korean bank with a fast-growing presence in Cambodia, and Dai-ichi Life Insurance (Cambodia) Plc., a leading Japanese life insurer, have officially launched a strategic bancassurance partnership. Endorsed by the National Bank of Cambodia (NBC) and the Insurance Regulator of Cambodia (IRC), this collaboration represents a major milestone in both companies’ shared mission to expand life insurance accessibility and promote financial inclusion nationwide.
The launch ceremony was witnessed by H.E. Bou Chanphirou, Director General of the Insurance Regulator of Cambodia; Mr. Sohn Cheol Su, CEO of Woori Bank; Mr. Mah Kin Yoong, CEO of Dai-ichi Life Cambodia; and along with senior executives and distinguished guests from both organizations.
Mr. Sohn Cheol Su, CEO of Woori Bank stated, “This partnership marks an exciting milestone for Woori Bank. By integrating Dai-ichi Life’s trusted insurance expertise with our expanding branch network, we are creating a seamless, one-stop financial service experience. Our customers can easily access comprehensive financial protection with greater convenience.”
Through this collaboration, customers across Cambodia can now consult with Dai-ichi Life’s professional Insurance Sales Staff at approved Woori Bank branches. This embedded service model delivers personalised, in-branch consultations tailored to each individual’s financial goals — making insurance protection more accessible than ever before.
Mr. Mah Kin Yoong, CEO of Dai-ichi Life Cambodia added, “Our partnership with Woori Bank is a meaningful step toward building a more financially resilient Cambodia. It reflects our core purpose — Partnering with you to build a brighter and more secure future — and aligns closely with the Royal Government of Cambodia’s strategy in enhancing financial inclusion. It is a proud milestone for us as we contribute to the Insurance Regulator of Cambodia’s goal of increasing insurance penetration throughout the country.”
By leveraging their combined strengths — Dai-ichi Life’s global insurance expertise and Woori Bank’s international banking presence with a strong local footprint — this partnership delivers customer-centric financial solutions that empower families across Cambodia with greater financial peace of mind.
About Woori Bank (Cambodia) Plc.:
Woori Bank (Cambodia) Plc. has achieved significant milestones in Cambodia for 30 years. With beginning of the funding program in 1990 and getting official license to operate as a microfinance institution in 2004. Then, updating license in 2011 to become a micro-deposit taking finance institution as well as merging with Woori Finance Cambodia Plc. in 2020 to broaden network. Additionally, the National Bank of Cambodia has approved a license as a commercial bank since November 2021 and officially launched in January 2022, enabling Woori Bank (Cambodia) Plc. to provide the market with full-fledged commercial bank’s products and services.
As of December 2024, the bank employs over 3,800 staffs, and serves more than 515 thousand customers with a total asset of USD 1.4 billion, a loan portfolio of more than USD 1,2 billion, and deposit savings balances up to USD 713 million. With the recent opening of two new branches, Woori Bank now has 145 branches nationwide as of May 2025, further enhancing its reach and convenience for customers.
“Woori Bank, Your Smart Choice in Finance!”
About Dai-ichi Life Cambodia:
Dai-ichi Life Insurance (Cambodia) PLC. (“Dai-ichi Life Cambodia”) is a rapidly growing life insurer in Cambodia in just over 5 years and has been recognized as “International Life Insurer of the Year – Cambodia” for 2 consecutive years, 2023 and 2024. They are a subsidiary of Dai-ichi Life Holdings, Inc. (“DLHD”), a leading Japanese life insurer with over 122 years of experience, and a listed company on the Tokyo Stock Exchange.
Founded in 1902, DLHD has been committed to partnering with all stakeholders to create a brighter future for all. They bring the same commitment to Cambodia by offering tailored life insurance solutions designed to meet your needs. As your lifetime partner, they are here to support your financial well-being for life.
At Dai-ichi Life Cambodia, their core values – We care, We do what’s right, We innovate – guide every business decision they make.
*Dai-ichi Life Group has strong fundamentals, solid capital base with total assets of USD446.08 Billion and the Premium and other income of USD49.71 Billion. (As of March 31, 2024)
