Cambodia Investment Review
To strengthen regional financial inclusion, Credit Bureau Cambodia (CBC) and Korea Credit Bureau (KCB) have officially launched a cross-border credit report sharing service. The initiative allows member financial institutions in both countries to securely access and verify credit data across borders, providing improved access to credit for citizens living abroad.
The official launch ceremony took place on April 24, 2025, in Phnom Penh, and was presided over by H.E. Yim Leat, Deputy Governor of the National Bank of Cambodia. Senior executives from financial institutions, government agencies, and industry associations attended the event, marking a significant step forward in regional financial data collaboration.
Cross-Border Credit Sharing for Greater Inclusion
The service is specifically designed to support individuals who relocate between Cambodia and South Korea for work or residence. With over 50,000 Cambodian nationals currently living in South Korea, the lack of credit history in a new country has long posed a challenge to accessing financial services. Similarly, Korean citizens residing in Cambodia have encountered similar barriers.
By enabling the secure transfer of verified credit histories, the new framework offers a practical solution. Member financial institutions of both CBC and KCB will, with the applicant’s consent, be able to request and access credit reports from the country where the individual previously established a credit profile. This ensures that lenders can perform more comprehensive credit assessments, reducing reliance on unverified financial data or assumptions.
The system is designed to comply with the regulatory requirements of both Cambodia and South Korea, maintaining data accuracy and aligning with best practices in international credit reporting.
Bilateral Cooperation Backed by Strategic Partners
The cross-border credit report service is the result of years of collaboration between the two bureaus and was formalized through a Memorandum of Understanding signed in May 2024 during the Korea Cambodia Business Forum held in Seoul. The agreement was witnessed by Cambodia’s Prime Minister, Samdech Moha Borvor Thipadei Hun Manet, and South Korea’s Minister for Trade, H.E. Ahn Duk-geun.
As part of the MoU, Jeonbuk Bank—the parent bank of Phnom Penh Commercial Bank and a member of KCB—joined as an early adopter of the service. This move aims to streamline access to credit for Cambodian workers in South Korea and promote the practical application of the service in the banking sector.
This bilateral partnership reflects a broader strategic ambition to establish interoperable financial systems that support the mobility of individuals across countries while upholding responsible lending practices.
Building on Regional Credit Integration Momentum
The Cambodia-South Korea credit sharing launch follows CBC’s previous cross-border partnership with Credit Bureau Singapore in 2023. These initiatives collectively mark Cambodia’s efforts to align more closely with regional standards for credit transparency and financial access.
The cross-border credit sharing service responds to a global trend: increasing labor mobility and the growing need for inclusive financial infrastructure. Without shared credit data, individuals often face repeated verification hurdles, despite having a solid credit record in their country of origin. The new system aims to remove these barriers and enable borrowers to leverage their financial reputations internationally.
By implementing this mechanism, CBC and KCB are supporting both national and regional objectives to create more transparent, inclusive, and connected financial ecosystems. The service is expected to benefit a wide range of users, from migrant workers and expatriates to financial institutions seeking more reliable data to assess risk and extend credit responsibly.
This milestone also contributes to Cambodia’s broader economic strategy of enhancing financial infrastructure to attract investment, support its diaspora, and integrate more deeply with regional and global financial systems.
