Prince Holding Group, Suspected of Backing Criminal Operations, Found to Have Office Presence in Korea

[Financial News] Prince Holding Group, which has been sanctioned by the U.S. and UK for fraud and human trafficking in Cambodia and elsewhere, is suspected of operating an office in Korea.
On the 17th, the office of Representative Seo Beom-su of the People Power Party, a member of the Security and Public Administration Committee, reported that Prince Real Estate Group, the real estate arm of Prince Holding Group, lists a Korea office in Sunhwa-dong, Jung-gu, Seoul on its website.
The phone number provided uses Cambodia’s country code.
When Representative Seo’s office visited the location, they found the office on the 17th floor was a shared workspace, and could not confirm any business activity by Prince Holding Group. The listed phone number was also unreachable.
However, Prince Real Estate Group promoted the opening of a showroom in Korea this past May and reportedly held a gallery event in Seoul in August, according to the lawmaker’s office.
The office further noted that in 2022, the group also interacted with the Korean Chamber of Commerce in Cambodia (Kocham Cambodia).
Representative Seo emphasized that since the real estate affiliate of Prince Holding Group has reportedly been used for money laundering, an investigation is necessary to determine whether similar activities have occurred domestically.
Seo Beom-su stated, "While it is important to rescue and repatriate citizens from Cambodia, we must not neglect efforts to uncover domestic criminal connections. If the group is conducting business in Korea, it is crucial to investigate any possible links to criminal activities."

jjw@fnnews.com Jung Ji-woo Reporter