“Revenue is up.
Is profit up too?”
Revenue, cost of sales and operating expenses are closed together, so you see the profit actually earned this month and how the margin moved.
Monthly P&L · margin
Accounting firm in Seoul for foreign-invested companies
Your Korean entity,
closed every month
and ready for HQ.
Headquarters wants monthly numbers from Korea, on its own deadline. We keep the books for your Korean subsidiary or branch, close them every month under Korean GAAP or IFRS, report in English, and handle the Korean tax filings. Run by a Korean CPA.
- Report on your HQ deadline
- IFRS accounting
- Reports in English
- Korean tax filings
Sample
Monthly Close ReportSeptember 2026
Sample Korea Co., Ltd. · KRW · vs. prior month
Revenue₩280M▲ 12.0%
Operating profit₩36.4M▲ 18.6%
Operating margin13.0%▲ 0.7%p
Revenue, last 6 monthsKRW 100M
Revenue and margin both improved. The higher advertising spend will be reviewed against next month's sales.
Company name and figures are fictitious, for illustration only.
01 · Why a monthly close
HQ asks the same questions every month.
Your Korean books should answer them.
For the Korean subsidiary or branch of an overseas group, books kept only for the annual tax return are not enough. When the Korean entity is closed every month on the same basis, the questions from headquarters can be answered with numbers.
“Revenue is up.
“Which costs moved,
and why?”
Expenses are broken down by item and compared with the prior month. Increases are flagged with the reason behind them.
Expense movements by item
“What should we
watch next month?”
Revenue per employee, gross profit, key expense trends and changes in what the company owes, explained in plain words.
Checkpoints for next month
02 · Services
Accounting and tax for your Korean entity,
handled in one place.
The exact scope is agreed with each company based on its business and records.
Bookkeeping
- Recording transactions under Korean accounting rules
- Electronic tax invoices, card and bank data collected automatically
- Only missing items are requested from you
Monthly close & HQ reporting
- Report delivered on the date your headquarters requires, even the 1st of the month
- Final close within 20 days of month-end
- Monthly reports in English: P&L, expense analysis, checkpoints
IFRS accounting
- Korean books adjusted to IFRS for group reporting
- IFRS 16 lease accounting for office and other lease contracts in Korea
- Deferred tax recognition
Korean tax filings
- VAT returns
- Withholding tax, including payments to overseas parties such as royalties
- Corporate income tax return
How we work with you
- Handled by a CPA
- Your books and reports are handled directly by Kyu-Jun Lee, a Korean Certified Public Accountant (KICPA member since 2004) and Certified Public Tax Accountant, from bookkeeping through the IFRS adjustments.
- Korean team, English output
- We work day to day with your finance or admin contact in Korea, in Korean. What goes to headquarters is in English.
- Everything in writing
- The monthly reporting package is sent by email, and questions are answered in writing, so there is a clear record of every figure.
03 · Sample report
Not a stack of ledgers.
What management wants to know.
Select an item on the left to switch the example. Report items and depth of analysis are set to fit each company.
Illustration using fictitious figures for Sample Korea Co., Ltd.
04 · How a month runs
Less chasing paperwork.
A close you can rely on every month.
Most records are collected automatically, so there is little to send us. We ask only for what cannot be collected.
1
Once, at the start
Onboarding
We review your business, current bookkeeping and reporting needs, and agree the scope.
月
Every month
Records collected
Automatically collected data is processed without anything from you; missing items are requested.
10
By the 10th
Tax invoices final
Electronic tax invoices for a month can be issued until the 10th of the next month, so sales and purchases are confirmed then.
20
Within 20 days
Final close
With all records in, the books are finally closed within 20 days of month-end and any changes from the earlier report are explained.
HQ deadline
Your headquarters sets the date. We deliver on it, even on the 1st. When the deadline comes before all records are in, the report is prepared from the records available at that point and clearly marked as such. Figures may then change in the final close, and we tell you what changed.
05 · FAQ
Before you get started.
What is bookkeeping with a monthly close?
Bookkeeping for Korean tax purposes, plus a close and report every month.
Instead of keeping books only for the year-end tax return, we close each month and report the profit and the main movements, so management and headquarters can follow the Korean entity's results month by month.
What do we need to send you?
Much less than you might expect. Most records are collected automatically.
Data that can be collected automatically is handled without anything from you. We request only items that are not collected automatically or that need confirming.
Our HQ needs last month's figures on the 1st. Can you meet that?
Yes. The report is delivered on the date your headquarters requires.
On an early deadline not all records are in yet. In Korea, electronic tax invoices for a month can still be issued until the 10th of the following month. So the report is prepared from the records available at that point and clearly marked as such. The final close follows within 20 days of month-end, and we explain any differences.
Can you prepare figures under IFRS for our group reporting?
Yes. As a CPA firm we handle IFRS-based accounting.
Typical adjustments include IFRS 16 lease accounting for lease contracts in Korea, such as the office lease, and the recognition of deferred tax. The Korean statutory books and tax filings are kept in line with Korean rules alongside.
Can we work with you in English?
Yes. Monthly reports are available in English, and we correspond in English by email.
We work by email and answer questions in writing. Phone and in-person meetings are in Korean, which suits companies with a Korean finance or admin contact who reports to headquarters by email. For English inquiries, email is the best way to reach us.
We have no accountant in Korea. Can you be our outsourced accounting team?
Yes. That is the setup we are built for.
Bookkeeping, the monthly close, IFRS adjustments, reporting to headquarters and the Korean tax filings are handled together, so your Korean entity does not need an in-house accountant. Your local contact only needs to answer the occasional question about a transaction.
Which Korean taxes do you file?
VAT returns, withholding tax and the corporate income tax return.
This includes withholding tax on payments to overseas parties, such as royalties paid to the parent company or other group companies.
Where are you located?
Mapo-gu, Seoul, a 7-minute walk from Hongik Univ. Station.
5F, Seungwon Building, 18 Worldcupbuk-ro 1-gil, Mapo-gu, Seoul. Directions are at the bottom of this page.
Contact
Tell us about
your Korean entity.
Let us know your business, how the books are kept today, your headquarters' reporting deadline and format. We will reply by email with a proposed scope for bookkeeping, the monthly close and IFRS reporting.
Inquiries in English [email protected] Click to write us an email- [email protected]
- Phone
- +82-2-338-0586 (Korean)
- Fax
- +82-2-338-0538
- Address
- 5F, Seungwon Building, 18 Worldcupbuk-ro 1-gil, Mapo-gu, Seoul, South Korea
Getting here
7 minutes on foot
from Hongik Univ. Station.
- Leave Hongik Univ. Station (Line 2) by Exit 1.
- Walk about 150 m along the main road (Yanghwa-ro) toward Hapjeong to the Hongik Univ. Station intersection.
- At Seogyo Tower on the corner, turn onto Worldcupbuk-ro, then take the first left into Worldcupbuk-ro 1-gil (the Joseon Hwaro Gui alley) and walk about 100 m.
- We are on the 5th floor of Seungwon Building.
18 Worldcupbuk-ro 1-gil, Mapo-gu, Seoul · Walking time per Kakao Map.
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