Ly Yong Phat: The King of Koh Kong driving crony capitalism in Cambodia

According to a report by Nation TV, both individuals maintain close ties with Cambodian Senate President Hun Sen as well as Thai politicians from both the government and opposition.

Ly Yong Phat was born in Koh Kong province, Cambodia, and is among the locals who fled the Cambodian civil war to live in Trat province, Thailand, where he was granted Thai nationality. As such, he holds the Thai name Phat Suphapha.

Once peace was restored in Cambodia, Ly Yong Phat turned to the Thai-Cambodian border trade, particularly in Koh Kong, which at that time was a port city receiving goods from Singapore, Thailand and Malaysia. These goods were then resold in Phnom Penh.

After 1993, Ly Yong Phat supported General Tea Banh, as a fellow Koh Kong native, and the Cambodian People's Party. As a result, he was granted concessions to construct hotels, resorts, and casinos on over 1,000 rai of land in Koh Kong, near the village of Hat Lek in Trat province.

Subsequently, Ly Yong Phat established the Koh Kong International Resort Club, which includes the Koh Kong Casino, Koh Kong Resort, and Koh Kong Duty-Free.

Currently, he is the owner of LYP Group, one of Cambodia's largest corporations, which is involved in real estate, industrial estates, large-scale agricultural projects, sugar factories, power generation, casinos, and tourism.

Ly Yong Phat has been granted the title of "Oknha" and serves as a personal advisor to former Prime Minister Hun Sen, as well as to Cambodian Prime Minister Hun Manet.

Over the past decade, he has expanded his casino business to several provinces, including casinos in Chong Sa-ngam in Preah Vihear province and O-Smach in Udon Meechai province.

In 2024, four hotels and resorts owned by the LYP Group—O-Smach Resort, Garden City Hotel, Koh Kong Resort, and Phnom Penh Hotel—were flagged by the US Treasury Department for alleged involvement in grey business operations and call centres that engage in forced or deceptive practices related to illegal activities.

In response, the Cambodian Ministry of Foreign Affairs issued a strongly worded statement, claiming that the United States had been misinformed, leading to a distorted global perception of this Cambodian businessman.

In early 2025, Thitidet Thongphat, deputy executive of Koh Kong International, publicly stated that Ly Yong Phat had no involvement in illegal activities, especially concerning casinos or call centres.

Additionally, Ly Yong Phat has ceased using internet and electricity from Thailand for several years, following the shutdown of the Koh Kong casino business.

The current Thai-Cambodian dispute has created significant discomfort for both Kok An and Ly Yong Phat, as both are closely connected with politicians from both sides of the Thai political spectrum.