Hiring in South Korea
South Korea entered the global stage after the 1950-53 civil war and the division of the nation into The DRPC (also known as North Korea), and the Korea Republic, known globally as South Korea. Today, we know South Korea for its music, notably the K-Pop genre and of course Psy and the smash hit Gangnam Style, as well as international smash hit movies and TV series, notably Parasite and Squid Game.
South Korea is one of the four ‘Asian Tigers’, nations that saw rapid economic development following the Second World War, and in South Korea’s case, the Korean War. South Korea has a highly developed economy that is focused on tech, automotive, manufacturing and services. Brands like Hyundai and Samsung are some of the world’s most recognisable and valuable.
Hiring in South Korea is tricky, but lucrative if done properly. South Korea is a G20 major economy and ranks 10th globally in terms of nominal GDP. Its workforce is highly specialised, highly educated and extensively skilled. Export and trade are key to the South Korean economy (it is the 7th largest exporter of goods in the world), so foreign and investment and hiring are seen as critical.
Why use TopSource Worldwide in South Korea?
We free your teams from the burden of managing payroll across borders, working diligently to ensure a seamless process across all activities.
We’ll manage the data flow from you to every local market and will return data to you in a readable format for each of your key teams, including payroll journals if needed.
Our services combine process excellence with a human-centric approach, and our top priority is always the care and compliance of your payroll — no matter where in the world you operate.
- Leverage our experience and ensure in-country Payroll compliance.
- Reduce processing and back office time.
- Align processes, reducing complexity and risk
- A single, centrally managed payroll system that delivers a fluid and consistent service to you and your employees.
- Flexibility of service — adapting to your needs, regardless of the market.
- The option to work with other providers you already have in place, if needed.
- Global HR data management and data tracking where required.
- Global payments support for both employees and authorities.
- A dedicated team and account manager so that you always have a central point of contact
What TopSource Worldwide provides in South Korea
- Simplicity – we provide one monthly consolidated invoice for the services provided inclusive of salaries, taxes, fees and employee expenses. This reduces banking costs and your finance teams time spent.
- One point of contact – a single Account manager looking after all your Payroll.
- Compliance – all funds payable to the employee are processed through payroll. You receive monthly evidence of taxation paid to the competent authorities in country.
- All services are provided by in-country experts that are professionally qualified in their respective fields.
- Electronic payslips for all employees.
- All Statutory filing completed by TopSource Worldwide.
We appreciate each situation and business is different. That is why we offer a consultative and bespoke solution to every client. We know one size does not ‘fit all’.
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