Payment Administration & HQ Reporting

Foreign companies often need practical support to coordinate payments in Korea while keeping overseas headquarters fully informed. KTE helps manage approved payments, cash requirements and supporting reports so local operations remain organized and visible to HQ.

Payment administration

Based on your approval and agreed procedures, we can coordinate recurring and non-recurring payments relating to your Korean operations.

• Preparation of payment schedules and funding requests;
• Vendor invoices and employee expense reimbursements;
• Payroll, withholding tax, VAT, social insurance and other statutory payments;
• Coordination of transfers through the client’s bank account or another agreed payment arrangement; and
• Maintenance of payment records and confirmations.

Cash flow coordination & HQ reporting

We provide overseas finance teams with clear supporting information and timely visibility over Korean cash movements.

• Periodic cash requirement forecasts;
• Payment summaries and supporting evidence;
• Bank and cash balance monitoring;
• Monthly or quarterly management reporting; and
• Reconciliation with the Korean bookkeeping records.

Clear approval and control

Payments are processed only after approval by the client’s designated contact and in accordance with the agreed control procedures. This provides local execution support while keeping decision-making and oversight with your company.