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Payroll

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Monthly Payroll

  • Computation and payment of withholding taxes
  • File withholding tax and payment
  • Net payment transfer to each employee’s bank account
  • Output monthly payroll list by department and cost center, together with payment slips
  • Issue certificates
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Year-end Individual Income Tax

  • Provide guidelines for year-end individual income tax settlement
  • Review each employee’s individual income tax deduction form
  • Perform year-end individual income tax settlement
  • Prepare electronic return of withholding tax
  • Prepare withholding tax payment certificates for annual income
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Final Settlement for Terminated Employees

  • Perform interim income tax settlement
  • File severance payment return with tax office
  • Computation of severance income tax and resident tax
  • File all required returns for interim income tax settlement
  • Computation of severance payment according to client’s regulations (including interim severance payment) and reconcile severance payment with monthly severance accrual
  • Pay net severance to terminated employees
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Administration of Statutory Insurance

  • Notify institutions of terminated employees
  • Deduct and pay insurance premiums
  • Annual settlement with the social insurance institutions
  • Upon hiring new employees, register with four different social insurance institutions
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Web Services

Tricor South Korea’s Human Resources Information System is a modular system that empowers human resource personnel and employees to manage their personal data, including but not limited to, education, career and family background; possession of certificates, licenses and training; health status; military service status; and business travel and promotion history.

Tricor South Korea’s web platform provides employees with easy access to important documents, such as receipts for wages & salaries; tax clearance certificate of Class A wages & salaries; report of exemptions & deductions from wages & salaries; and certificates of employment & career.

Our advanced system can perform statistical analysis of payroll data by cost center, by division, by position and by time. Examples include average salary analysis, variance analysis, and budget simulation.

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Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resource & payroll, corporate trust & debt services, fund administration, and governance advisory.

Tricor South Korea

8/F, Hanjin Heavy Industry Building,
4 Hangang-daero 71-gil, Yongsan-gu
Seoul 04322, South Korea

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