Woori Bank Cooperates with VERYWORDS to Provide E-Mobility Charging Station in Phnom Penh and Siem Reap

On February 27, 2023, Woori Bank (Cambodia) Plc. and VERYWORDS signed a Memorandum of Understanding to provide charging stations to make more convenient on battery charging​ of VERYWORDS's E-Mobility at the Woori Bank's branches.

E-Mobility is critical in bringing clean energy to the world of transportation. It electrifies vehicles by fuel substitution with electricity as the power source for motor vehicles. E-Mobility is not only cost-effective, but it is also environmentally friendly.

The event was presided over by Mr Kim Hong Ju, Chief Executive Officer of Woori Bank (Cambodia) Plc. and Mr Kim Sung Woo, the representative from VERYWORDS, and senior management and staff of both parties. The celebration was hosted at Woori Bank (Cambodia)’s Head Office in Phnom Penh.

During the sharing speech session, the CEO of Woori Bank (Cambodia), Mr Kim Hong Ju stated, "Woori Bank (Cambodia) has always worked to find financial solutions that could meet the needs of the Cambodian people under the slogan ‘grow together with Cambodians’. Within the framework of an MOU with VERYWORDS, Woori Bank (Cambodia) is pleased to provide a charging facility to make E-mobility more convenient. Woori Bank and VERYWORDS will also continue to collaborate on future services".

"This MOU aims to support ESG (Environmental, Social & Governance) frameworks to respond to the Global Warming Crisis. We hope that this collaboration will be able to provide better support for Cambodia's environment and society. At the same time, Woori Bank (Cambodia) will keep healthily and sustainably growing with Cambodians," Mr CEO continued.

"We work on building an ecosystem of electric vehicles in which all Cambodians can actively participate in response to climate change," the CEO of VERYWORDS, Mr Kim Sung Woo stated. With the collaboration of Woori Bank (Cambodia), there will be more charger infrastructure for Cambodia, beginning in Siem Reap and Phnom Penh. Moreover, VERYWORDS is establishing “a Carbon Neutral Culture” platform which allows Cambodian people to actively participate alongside with us. And It’s such a pleasure that Woori Bank (Cambodia) will be a part of this frameworks with us".

According to UNDP Cambodia, the Cambodian government has embedded Electric Vehicles (EV) into the country's national transportation policy, with a focus on cities. With their rapid urbanization, cities provide the ideal environment for EVs, with paved roads, dependable sources of electricity, and an increasing number of charging stations. Cambodia's Long-Term Carbon Neutrality Strategy, submitted to the United Nations Framework Convention on Climate Change (UNFCCC) last December, includes a pledge to have 40% of EV cars and urban buses and 70% of electric motorbikes by 2050.

About Woori Bank:

Woori Bank (Cambodia) Plc. has milestone significant achievements in Cambodia for 30 years. With the beginning of the funding program in 1990 and getting the official license to operate as a microfinance institution in 2004, then, updating the license in 2011 to become a micro-deposit-taking finance institution as well as ​merging with Woori Finance Cambodia Plc in 2020 to broaden the 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 products and services.​ The bank has 140 branches nationwide as of February 2023, employs over 4,200 staff, and serves more than 417 thousand customers with​ total assets of USD 1.4 Billion, a loan portfolio of USD 1,182 million and deposit savings balances of up to USD 345 million.

“Woori Bank, Your Smart Choice in Finance!”



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