Logo of Phnom Penh Post newspaper Phnom Penh Post - Woori, Grab Cambodia partner on driver loans

Woori, Grab Cambodia partner on driver loans

Content image - Phnom Penh Post
Grab vehicles are parked in Singapore. GRAB/THE KOREA HERALD

Woori, Grab Cambodia partner on driver loans

SOUTH KOREA’S Woori Bank has partnered with Southeast Asian ride-hailing giant Grab’s Cambodia office to offer low-interest loans and other specialised financial products to Grab drivers in the country, the bank said on Thursday.

WB Finance, the Cambodian business unit of Woori Bank, signed a memorandum of understanding with Grab Cambodia, to launch a series of financial services specifically designed for Cambodia’s Grab drivers, including low-interest loans.

“Grab Cambodia will provide not only service training and insurance services to our drivers, but also specialised financial services in partnership with Woori Bank’s Cambodia branch,” Grab Cambodia head Ron Wong said in a statement.

Woori Bank plans to seal similar partnerships with global finance technology companies in Vietnam, to expand its global footprint across Southeast Asia, it said.

Woori Bank operates two offices in Cambodia – Woori Finance Cambodia acquired in 2014 and WB Finance acquired last year.

Based in Singapore, Grab is the biggest ride-hailing app operator in Southeast Asia. It operates in 336 cities across the region, including Singapore, Malaysia, the Philippines and Indonesia. THE KOREA HERALD/ANN

MOST VIEWED

  • ‘Support of CNRP return online will lead to arrest’

    Anyone posting messages supporting the return of Sam Rainsy, the “acting president” of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), on social media will be arrested, the Ministry of Interior announced on Tuesday. Ministry spokesman Khieu Sopheak told The Post on Monday that authorities

  • CNRP activists arrested for ‘plotting insecurity’

    Three activists for the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) have been sent to Phnom Penh Municipal Court after they were arrested for their alleged involvement in an overseas-organised plot to mobilise demonstrations and cause insecurity. National Police spokesman Chhay Kim Khoeun said the

  • Rainsy charged with ‘insulting the King’

    Ministries and state institutions have condemned Sam Rainsy, the “acting president” of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), for allegedly insulting His Majesty King Norodom Sihamoni. The condemnation came in the wake of Rainsy’s claim on Thursday during an interview with Radio

  • Police conduct raid on Orchid massage parlour

    Thirty-seven people, including three minors, were detained after Phnom Penh Municipal Police and the Department of Anti-Human Trafficking and Juvenile Protection raided the Orchid massage parlour in Sen Sok district’s Phnom Penh Thmey commune on Monday. The 27-room massage parlour is believed to have