http://www.camnet.com.kh/akp/

Phnom Penh, October 2, 2006 AKP --

Korean investors presented a New City Building Project worth USD 300 million to Samdech Hun Sen, Prime Minister of Cambodia during a courtesy calls at Takhmao town, Kandal province on September 29, 2006.

During the meeting, Mr Seoc Chulkim, founder of Beong Snor Regional Development project informed Samdech Hun Sen that investors from the Republic of Korea created a new city development project in Beong Snor region near Phnom Penh and scheduled to build two bridges linking Phnom Penh to Kos Pich and from Kos Pich to Beong Snor region, according to Mr. Ieng Sophallet, assistant to Prime Minister Hun Sen, who told the press after the meeting.

Korean and local Companies will invest US$ 300 million in the New City Building Project of Beong Snor region. The project will take ten years.

According to the project, 50-storey department store, technical industries, hospitals and hotels will be built in Beong Snor region.--AKP

Cool great news, Phnom penh will be a great city by 2020

A 50 story department store... Damn.

sounds great. damn those Koreans are doing alot of investing.

A 50 floors building will be around 200+ meters.

50 storey department store!?!? that's cool!

Yea we comin up thanks 2 Korea

That's good. I'm happy for Cambodia. But let's hope Korea doesn't start investing Korean Missionaries in Cambodia while they're at it.

^ good point, but i dont feel khmers are sellouts

I know Cambodians are proud people. Cambodia is rich in culture and tradition. But Christian Missionaries come from affluent countries and the power of money can have a lot of influence on people.

^There already are... hundreds of missionaries out in action everyday.

well i hope they burn in hell for 'knowing best'

i still remember those stupid words, "once they believe in jesus, then nothing else matters", those fu-kin bastards, the government should use china's aid to ban them and prevent them from entering the country..

Sounds good.

its good that Korea is investing in Cambodia.

What does this building look like? :O

USD 300 million to Samdech Hun Sen..

He's not that corrupt... he'd prolly take 200 million :P

The more money coming, the faster WE go.

oh it's so wonderful for the koreans to invest money into a department store - yet when vietnamese people migrate across the border looking for a better life, cambodians yell "the yuon are taking over!"

that's called hypocrisy

^since when did viets start migrating to cambodia? i thought there was tension between the two countries.

The situations are different.

how are they different? seems to me in both instances, foreigners are staking their claim to a piece of the cambodian economy. whereas the koreans have the monetary clout and know-how to invest millions of $; the vietnamese will be investing their labor.

The Vietnamese issue is parallel to the Mexican immigrants here in the states. You know too well why many white caucasians aren't happy with it.

i know about the mexican immigration situation because i live in california. i tend to side with the poor people trying to make a living in the states - but this is not the issue at hand.

i just don't understand the racism shown towards the vietnamese trying to make a better life for themselves. whereas koreans and their millions of $ are welcomed w/ opened arms.

You just don't understand the politics behind it. If you allow your neighbor in freely, eventually they'll become the majority and try to take over your belonging and use your resources. Illegals shouldn't trespass in the first place. They know better than that. They can always find ways to improve their life in their OWN country. It's partly our fault for not regulating our borders, and apparently our government does not care.

I think you just answer your own questions Mr. Vath.

so they try to make a better living and raise their lifestyles while remaing faithful to motherland vietnam? that's just BULL, might as well not let them in

^since when did making money have to do with being faithful to your motherland?

you guys act like cambodians don't go to vietnam or any other country to make money... cambodia's economy won't improve by much if they exclude themselves from investors from different countries...

^ we all said that until a japanese got elected as president of the peruvian government, and what happened?

cant wait to see the building when its done

If you know the history about Cochinchina, and how that part of the Khmer country become part of Dai Viet(Southern Vietnam) then you'll understand why Khmer people in general feel about the Vietnamese. If you don't know, then ask someone who is nuetral and knowledgeable about the subject. Don't ask the Khmer or the Viet. Both have biases.

mm.. what does christianity have to do with this building?


lets steer the topic away from vietnam please X_X

It's possible to build a 50-storey building for 300 mill? o_O
There's gotta be something wrong with that. It cost 50 mill to build a sugar mill in Cambodia (y'all may remember that article).




Investors and immigrants are very different. Hey, if those immigrants were pouring millions into the Cambodian economy, it'd be a different story.

On a side note, doesn't Cambodia welcome Vietnamese investors just as it does Korean investors?

Is the plan even approved ?

I believe Sok Kong and other investors have invested billions in Cambodia like the recent investment in the stadium.

Guide to Siem Reap: http://www.talesofasia.com/cambodia-siemre...ide-temples.htm

Q: Who gets the money?

A: The ticket concession is under contract to a private Cambodian corporation called Sokimex. Contrary to false information spread by members of the political opposition as well as impressionable and ill-informed moto and taxi drivers, Sokimex is very much a Cambodian corporation and they do not own so much as one single stone of Angkor. They collect the money and issue and inspect the tickets. That's it. That's all they do. They presently get to keep about 15% of the revenue with the aforementioned Apsara Authority sharing the remainder with the Finance Ministry. For more information about the division of funds and the contract that governs this arrangement, read a story I did in October 2000 about this very topic. If you'd like some more information about restoration projects and management of the park, you might like to read an interview I did with Ang Choulean, Department of Culture and Monuments of the Apsara Authority, also in October 2000. However, one caveat, since both the story and the interview the structure of division of funds has changed somewhat with Sokimex and Apsara getting less and the Finance Ministry getting more.

It's been my experience that the arrangement for the Angkor/Sokimex ticket concession is one of the most misunderstood issues surrounding the temples and quite frankly, most Cambodians, and certainly many of the moto and taxi drivers, really have no idea what the truth is. Hence, a lot of tourists walk away from Siem Reap with incorrect information about this arrangement. The temples are most certainly not owned by the Vietnamese, nor by a Vietnamese company, nor by Hun Sen. The temples as stated above are the property of the Cambodian people, administered by the Cambodian government, with a private corporation selling and inspecting the tickets. It should be stated that the governance of the Angkor temples is very much a political football in Cambodia and the political opposition has done a marvelous job of perpetuating the false information that so many tourists pick up while they are here.

^I said Sok Kong himself is ethnic Vietnamese as he has admitted. Sokimex is a Cambodian corporation because it is based in Cambodia.

An ethnic Indian who lives in Ameria can set up a company in America, but the company is considered American not Indian.

I have no problem with immigrants as long as they assimilate to a certain degree.

^ same here, just as long as they recognize the country they made a better living for themselves in, i think they can call themselves whatever ethnic group they're originally from.

I don't like this at all. Koreans are HUGE missionaries. I assume many of them would come down to Cambodia and stay in this place.

I pray that these demons will be kept away from Cambodian. For the sake of Cambodian culture.

DOWN WITH SELL-OUT'S! You don't need white-worshippers (Jesus Lovers) in Cambodia.

^2222222MAO

You sound like Romeydahound.

That's only one company owned by ONE person, and it's not owned by Vietnam as mentioned. Not every single Vietnamese in Cambodia are doctors, lawyers, engineers. Most are eeking out a living as the next Khmer person.