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KB Kookmin Card sets up consumer bank joint venture in Cambodia

South Korea's KB Kookmin Card Co. Ltd. and Vietnamese automotive company LVMC Holdings have launched their joint venture KB Daehan Specialized Bank PLC. in Phnom Penh, Cambodia, Yonhap News Agency reported Sept. 6.

The lender will handle auto and property loans, the report said.

It added that KB Kookmin Card, a KB Financial Group Inc. unit, will begin marketing debit cards to KB Kookmin Bank Cambodia PLC. customers, before expanding its business in the Southeast Asian country to credit cards and credit card loans.