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Gov't imposes sanctions on 15 individuals, 132 entities involved in overseas criminal operations

Published: 27 Nov. 2025, 19:32

The Prince Group headquarters in Phnom Penh, Cambodia, is seen on Oct. 19. [YONHAP]

The Korean government imposed unilateral sanctions on 15 individuals and 132 entities involved in criminal operations based in Southeast Asia that have targeted Korean nationals through scams, illegal confinement and coercion.

The Ministry of Foreign Affairs, the Ministry of Economy and Finance, the Ministry of Justice and the Financial Services Commission jointly announced the sanctions on Thursday.

The sanctions list includes Chen Zhi, the chairman of the Prince Group, which has operated large-scale scam compounds in Cambodia, where many Korean nationals were lured and confined against their will, according to the Foreign Ministry.

The Huiyan Group and its subsidiaries are also included for allegedly playing a pivotal role in laundering money for transnational criminal operations — as is a Cambodia-based scam syndicate ringleader who is a key suspect in the abduction and fatal assault of a Korean university student.

Last month, the United States and Britain sanctioned the Prince Group, labeling it as a transnational criminal organization responsible for large-scale fraud and money laundering. The U.S. Treasury Department also designated the Huiyuan Group as a primary money laundering concern.

Prince Group Chairman Chen Zhi [SCREEN CAPTURE]

Those sanctioned under Korean law will face a range of restrictions under statutes such as the Act on Prohibition Against the Financing of Terrorism and Proliferation of Weapons of Mass Destruction, the Immigration Act and the guidelines on implementing and maintaining international peace and security.

These measures include asset freezes, restrictions on financial transactions — including virtual assets — and entry bans for individuals.

“This marks Korea’s first unilateral sanctions against transnational crime and is the single largest sanctions package ever imposed,” the Foreign Ministry said. “It reflects the government’s strong commitment to responding decisively to online criminal networks in Southeast Asia that are causing serious harm both domestically and internationally.”

“We will continue to respond with all our effort against transnational crimes through close interministerial cooperation and international collaboration while disrupting overseas criminal networks and blocking illegal funds by identifying additional sanction targets to prevent our country from being used as a hiding or laundering site for criminal proceeds.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY CHO MUN-GYU [[email protected]]