Payroll Payment Administration
Local Banking Coordination and Controlled Execution of Payroll-Related Payments in Korea
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How We Work
Step 1: Payroll & Funding Request
Preparing final payroll calculations and a funding request covering net salaries, approved reimbursements, payroll taxes, and social insurance contributions.
Step 2: Approval & Bank Coordination
Coordinating client approval and funding, Korean bank account setup, payment testing, KYC documentation, and bank inquiries.
Step 3: Payment & Reconciliation
Executing approved payments, monitoring available fund balances, and providing payment confirmations, reconciliations, and additional funding alerts.
Service Scope
Key Services Included
Payroll calculation and detailed funding request preparation
Coordination of client approvals and overseas payroll funding
Korean bank account setup support, payment testing, KYC documentation, and bank communication
Net salary, approved expense reimbursement, payroll tax, and social insurance payments
Payment confirmations and monthly reconciliation reporting
Fund balance monitoring and additional funding alerts
Funding & Banking Arrangements
Funding may be made to a designated Korean account or the client’s Korean bank account, depending on the agreed service model and applicable bank requirements. Payments are processed only after sufficient cleared funds are received.
Korea Payroll Partners provides payment administration and banking coordination only. We do not provide banking, foreign exchange, escrow, remittance, or advance funding services.
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