Expand Your Business into South Korea Today!
We manage the risk on your behalf while you focus on your business activities.
New Horizons PEO services provider for South Korea will employ both local and foreign staff on behalf of clients, so that the client does not need to set up a legal entity in Korea.
We are an international PEO offering employer of record, payroll and employee benefits management, reimbursements, Human Resources and compliance services throughout the world. Overcome the challenge of expanding your business internationally as quickly as possible because of the barriers to global business like intricate local legislations or cumbersome and costly procedure of setting up a foreign subsidiary.
On-Site Legal Team
New Horizons provides an alternative path for companies to outsource the employment of their staff in South Korea. Compliance with local employment requirements is just one of the issues foreign companies face when employing staff in South Korea. For companies which intend to employ their staff directly through their incorporated South Korea entity, professional legal advice is recommended.
Full Country Coverage
We can help you do business globally by becoming your in-country employer of staff. We offer recruitment services and employment solutions in any part of the country, any province / city according to your work and employee’s requirements. New horizons will send you a customized proposal matching your exact specifications within 24 hours, and can have your employees operating immediately after the paperwork is signed.
South Korea Labor Law
We enable clients to hire, deploy and manage staff in diverse jurisdictions flexibly and efficiently, with full confidence in their compliance with Korea’s local regulations. We maintain country employment relationship by ensuring local compliance with payroll contributions and withholding, with a clear breakdown of the payroll, benefits, reimbursements and mandatory termination/severance costs.
What does Our Employment Solutions for South Korea Include?
Why You Should Consider Using New Horizons PEO Services in South Korea?
Employment in South Korea – FAQ
Our expertise for your success.
Whether you need to instantly employ a local expert or a foreigner / expatriate in South Korea, New Horizons will guide you through local employment modalities as well work permit sponsorship and business visa issuance required for expatriates’ immigration. We can also assist you with local payroll, and taxes, alongside general employment support so that you can expand your business into South Korea in no time at all.
Anyone who is planning to work during their stay in South Korea is legally required to apply for a visa. Visas and work permits for South Korea are often filed by the sponsoring employer. Once an expat’s work permit has been approved, the Ministry of Justice will issue a Certificate of Confirmation of Visa Issuance (CCVI). This certificate must then be submitted with the relevant visa application forms to the South Korean embassy or consulate in the applicant’s country of residence.
The time to process a work visa in Korea is from 2-4 weeks, although if you do not have a local incorporated entity you have to factor in the time it takes to set that up. We can get work visas for your staff in the shortest time possible, which means quick deployment and the ability to begin work activity right away.
You manage your employees, NH Global Partners manages your; payroll, HR and benefits. New Horizons prepares all payroll calculation (including social charges, taxes, benefits, expenses claim, etc.) for the foreign company to validate on a monthly basis. This validation process is the only procedure requested from the foreign company, in order to ensure a constant follow up of the overseas teams’ labor costs. All onboarding and termination procedures are handled by New Horizons in accordance with local norms. We also keep you apprised of changes to local employment laws in South Korea.
We manage employment contract best practices, statutory and market norm benefits, and employee expenses, as well as severance and termination if required.
The number of overseas employees is not limited and can vary according to the ongoing projects and business development.
An employer must provide employees with at least 30-days’ notice or they can pay the employee 30 days of salary in lieu of the notice as a dismissal notice allowance. Severance Pay (known in Korean as Taechikum 대지금금) for foreign workers, teachers among them, is a common issues of contention between employers and (foreign) workers. Severance regulations apply equally to Korean and Foreign workers.
By Korean law all full-time employees, Korean national and foreign nationals alike) are entitled to receive severance pay (aka retirement allowance system or Taechikum) of one month’s salary for each year of employment.
To assist you in establishing and maintaining your business operation in South Korea, New Horizons act as a professional Employment Organization (PEO) or Employer of Record (EOR). In this regard, we act to employ staff on your behalf in South Korea, seconding them back to you under a service agreement. We provide you with a comprehensive administrative and legal support for hiring local professionals to develop your business in South Korea. Services like setting up payroll structure for employees, assisting with employment contract negotiations, and many other relevant administrative procedures are what we offer.
This arrangement massively simplifies your expansion and global workforce management, enabling you to effectively hire staff immediately to perform your administrative and legal hassles, sales activities, market research, set-up activities without the need for the various costs, times and commitment associated with setting up an entity.
No, a foreign company can only hire staff in its working location (city level). Hiring an employee in a different city requires the opening of a corresponding local subsidiary. This is where New Horizons come in, We employ individuals across the globe on your behalf. We deliver fully employed, fully taxed solutions in every territory. Our tailored solutions are based on your business needs with a focus on compliance and class-leading service delivery.
New Horizons, as a result of our contractual arrangement with clients, take on a statutory role as an employer. In simpler words, compensation administration and management is one of the single most critical components in the suite of products and services we provide our clients. This removes the unnecessary cost and time associated with setting up and maintaining a legal entity, investing minimum capital, annual company administration, enabling you to expand your business into different cities of South Korea in a very short time.
New Horizons PEO service provider will save you time and enable you to hire immediately and remove any HR administration, visa applications, employee insurances, pension and tax payments that prevent you from focusing on your business growth. Staff already on-site can be hired in record time depending on their actual professional situation and can start working for you within as little as one day, while a new immigration procedure lasts approximately 1-month prior arrival to the work location.
No, New Horizons manages all aspects of payroll for workers in South Korea, including taxes, withholding, social security payments and other statutory requirements. New Horizons provide employees with pay slips and also invoice the client monthly in advance of the payroll date. The invoice consists of the Total Cost of Employment (Base salary + Employers Statutory Contributions + Additional statutory contributions) and a Management Fee. Tax and compliance management matters are lifted from your shoulders onto ours, so that your teams can focus on their business activities.
Companies can outsource the employment and payroll of their staff in South Korea to a Professional Employer Organization like New Horizons. This is possible for both expats and South Korea nationals. This is the easiest, fastest and safest way to payroll your staff in South Korea.
Staff can be home-based or work in the location they prefer depending on their scope of activity, as long as their foreign employer gives its approval. New Horizons help companies look for more cost-effective and flexible ways to set up a presence in South Korea without having to commit to a legal entity.
Hiring staff in South Korea under New Horizons PEO service provider gives you a massively higher level of flexibility than if you were to set up a company.
You can also test the market for viability and easily withdraw if found unfeasible without having to lose much compared to what could be lost after you had established an entity there. Not sure if the South Korea market is right for you? New Horizons PEO employment ensures that you can quickly scale up and down before taking the plunge.