South Korea PEO Services
Professional Employer Organization Services
A PEO offers you a launchpad for global expansion. By using a PEO in South Korea there is no need to set-up a legal entity including all tax registrations and complicated paperwork, and you can start doing business within days.
At Bradford Jacobs, we made it our goal to gain expert inside knowledge on South Korean payroll, taxes, labor laws, and other local regulations. By utilizing our sources, you can start your global expansion hassle-free and at a low cost. We can provide specific support for payroll, taxation, Human Resources, and compliance issues as you expand your operations and enforce your workforce.
If you are ready to start your global success with us, you can add new international talent to your company within days. We have the connections and network to locate talents that meet your needs and wishes on all levels. Without the need for you to create a South Korean subsidiary, your new employee can benefit your business in South Korea in days instead of months.
Needless to say, but incredibly important: we ensure your company complies with all regulations and laws, areas in which can incur severe penalties would you fail to adhere. Your chosen candidate is hired through our agencies in South Korea and remains under your day-to-day control.
How a Professional Employer Organization (PEO) works in South Korea
Your business is not like any other and we get that. Your international plans require solutions that match with these plans, your goals, and your business strategy. Therefore, our PEO services provide a consultative approach and a tailor-made solution because we know one size does not fit all.
A PEO works with Employer of Record (EOR) agencies. This agency can function as the employer of your new workforce. Our EOR agencies in South Korea enable you to operate staff in-country without worrying about HR (Human Resource) services, tax, payroll, hiring, firing, or adapting to changes in local regulations and employment laws. The EOR will take on these tasks and will be fully responsible.
When you hire us as a PEO, we come to an agreement together and establish a contract between you and Bradford Jacobs. We also come to an agreement with your new employee in South Korea and sign an employment contract with this person.
The daily workflow and tasks of your new workforce will be completely under your guidance. Although we function as your employee’s legal employer, he or she performs tasks for your business as a part of your team.
- You want to deploy an existing employee or recruit new talent in South Korea
- Once the candidate is selected, Bradford Jacobs steps in as their EOR through our South Korean entity. We guarantee compliance with employment contracts, payroll, HR, tax, required visas or work permits
- Within a few days, your company has an international presence in a new market, in a prime position without the risks, hassle, or expenses of setting up your own subsidiary
- You will have daily control of the employee, while we manage all work-related registration formalities. Our consultants inform your employee about their holidays, benefits, and entitlements policies
- All approved declarations and completed timesheets are sent to us by the employee. We will invoice you and once the payment is completed, we will deduct all contributions to the authorities and transfer the balance into the employee’s account
When expanding your business into South Korea, there are many opportunities to seek and explore. With us as your trusted partner, you can solely focus on these opportunities without worrying about:
- Registering with the Tax Office
- Registering with the Social Security Organizations
- Setting up a bank
- Creating employment contracts
- Applying for special expatriation status (if applicable)
- Calculating monthly salary and creating payslips
- Researching available tax-free allowances
- Submitting wage tax returns and national insurance forms
- Corresponding with involved parties
- Annual accounts, administration, and year-end statements
- Creating payment schedule for wage tax, national insurances, and net wages
- Personal income tax returns
Using a South Korean Professional Employer Organization (PEO) Provider Features and Benefits
Our PEO and EOR employment solutions enable you to create and maintain your mobile workforce legally and officially employed in South Korea without establishing a legal entity in-country. No expensive, time-consuming processes with the risk of not complying with unfamiliar laws and regulations, but an efficient, fast, and stress-free alternative to conquer new markets.
You select your candidates, and we do the rest. We provide:
- Customized solutions for all nationalities moving to work in South Korea
- Local specialists providing you with ongoing business support
- Extensive EOR expertise ensuring that your employees benefit from any treaties on expatriate tax, double taxation treaties, reclaimable expenses, or social security agreements
- The option for employees to use their own accountant, and cover the fees to the level charged by our accountant
- One-to-one contact with our consultants
South Korean Professional Employer Organization (PEO) Features and Benefits for Employer
- A rapid solution to onboarding employees for your international expansion
- Total control over operating budgets as all costs are detailed at outset for full transparency
- Minimal paperwork or red tape. Since you do not need to set up an entity, you can start operating in South Korea within days
- Expert guidance with employment and compliance issues
- Reduced accountancy and legal costs
- All statutory professional insurances
South Korean Professional Employer Organization (PEO) Features and Benefits for Employee
- Worry-free local employment contract compliant with local regulations
- On-time and 100% accurate salary payment
- Great benefits
- One-to-one professional HR advice
- Updates on tax and compliance regulations
If you are not looking for a permanent full-time employee in South Korea, working with contractors or project workers can be a great solution. This provides you with a bit more flexibility during your expansion while it is a reliable way to start and even run a business.
You can hire contractors in South Korea on a temporary basis for hours or days. Do keep in mind that it is not allowed for a contractor to work full-time for you solely. This requires an employment contract.
To comply with the South Korean regulations regarding contractors we can offer you numerous services:
- Employment shareholder agreement. You agree on an hourly or daily rate and we convert this into a monthly salary.
- Self-employed. Our contractors are employed by their own entity. We are responsible for paying this entity
- Invoice only. No worries about taxes and local labor laws because we take care of your contractor’s invoices
- Umbrella service. This service is similar to the first agreement. You will agree on a daily or hourly rate and we complement this to a monthly salary. Any additional funds build-up are paid out as a bonus
- EOR-service. When it does appear that a contractor needs to be hired as an employer, we can easily set up our EOR-service