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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

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

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

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

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.


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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