HOME > Business overview > Our Service > Foreign Corporation Service Desk

Foreign Corporation
Service Desk

Our Service

Foreign Corporation Service Desk, FCSD

Our Foreign Corporation Service Desk (“FCSD”) provides the specialized services for the branches and subsidiaries of foreign corporations in Korea in order to meet the tax and accounting compliance requirements under the Korean tax laws.

  • Bookkeeping Service
    We prepare the accounting books of the company in accordance with generally accepted accounting principles (or Korean IFRS) and tax laws of Korea based on the supporting documents provided by the Company.
  • Financial report to the head office company
    In most of cases, the Company should send its financial report to its head office company on a monthly basis. In this connection, we prepare this report in English on behalf of the Company. The financial report would include the balance sheet, income statement, and other financial information requested by the head office company. The monthly financial report will be provided in timely basis in order to meet the head office company’s requirement. Communications with the head office company relating to these financial statements would be performed in English by our professional staffs.
  • Payroll service
    We prepare the monthly payroll register of the Company based on the compensation package of each employee. This payroll register will show gross salary, deductions (income tax, local income tax and social insurances) and net salary. The payment of net salary will be made from the bank account of the Company directly to the employees’ personal bank account.
    We prepare and file the monthly withholding tax return for the payroll according to the tax laws of Korea. Also, we prepare and file monthly social insurance reports (national pension, national health insurance, accident compensation insurance and unemployment insurance), which are required by the relevant laws.
  • Payment process assistance service
    We provide the services for the payment approval process of the Company including the verification of expense receipts, upload of the payment approval files into the Company’s networks and follow-up of the related account payable management.
  • Value added tax (VAT) return
    We prepare and file the quarterly VAT return on behalf of the Company according to the VAT law of Korea.
  • Corporate income tax return
    We prepare and file the semi-annual and annual corporate income tax return on behalf of the Company according to the Corporate Income Tax Law of Korea.
  • Consulting service
    We provide the consulting services on tax and accounting issues arising from the day-to-day operations. These services are provided in English upon request.

    Yum Chan-yup, CPA, Tax Partner, Foreign Corporation Service Desk

  • Tel. +82-2-556-0002
  • Fax. +82-2-556-4477
  • Mobile : +82-10-9093-3929
    Our major foreign corporation clients