Webcash CEO Kang Won-ju (right) and Wiseal co-CEO Louis pose for a photo after signing an MOU at Webcash's headquarters in Yeongdeungpo-gu, Seoul, on Wednesday to expand the supply of Gyeongrinara to Chinese-affiliated companies operating in South Korea. [Webcash]
Webcash CEO Kang Won-ju (right) and Wiseal co-CEO Louis pose for a photo after signing an MOU at Webcash's headquarters in Yeongdeungpo-gu, Seoul, on Wednesday to expand the supply of Gyeongrinara to Chinese-affiliated companies operating in South Korea. [Webcash]

SaaS platform covering full accounting operations; two firms to cooperate on expanding customer base

Financial AI company Webcash has laid the groundwork to expand the supply of its accounting software platform Gyeongrinara to Chinese-affiliated companies operating in South Korea.

Webcash signed an MOU on Wednesday with Wiseal, a company that supports Chinese firms entering the South Korean market, the company announced Monday. Wiseal is co-led by Louis and Kim Kang. Under the agreement, the two companies will work together to help Chinese-affiliated businesses managed by Wiseal adopt and use Gyeongrinara. Wiseal will serve as a sales partner for Webcash, introducing Gyeongrinara to its client companies and helping distribute the platform to Chinese sellers preparing to enter the Korean market.

To support companies adopting the service, Webcash will develop a new feature allowing Wiseal's client data to be linked with Wiseal's own systems through Gyeongrinara. The company will also provide stable service operations through initial data integration and technical support. The two firms plan to collaborate on additional development and technical requirements as the customer base grows.

Gyeongrinara is a software-as-a-service platform that covers the full range of accounting tasks for small and medium-sized enterprises, including payroll, tax invoices, expense documentation and cash management. By consolidating key data such as corporate account transactions and sales and purchases, the platform reduces the burden of managing accounting and tax records while improving operational efficiency.

"For Chinese companies to operate stably in Korea, having a solid tax and accounting management system after incorporating a local entity is essential," Wiseal co-CEO Louis said. "We will help reduce the accounting workload for our clients and support their local operations through the adoption of Gyeongrinara and fee subsidies."

"This agreement allows us to expand the supply of Gyeongrinara to Chinese-affiliated companies in Korea through Wiseal's customer network," Webcash CEO Kang Won-ju said. "We will help client companies handle the accounting tasks required in running their local entities in a more systematic way."

Meanwhile, Webcash Group has been broadening its business reach both domestically and overseas. The group recently announced that its subsidiary Webcash Global completed the deployment of WeCMS — a locally tailored integrated cash management solution — at Hansung Bolt's Vietnam production subsidiary, with full operations now underway.

Earlier this year, Webcash Vietnam, the Vietnam arm of Webcash Global, signed an MOU with Vietnamese electronic payment firm VNPT E-Pay to cooperate on digital financial transformation for small and medium-sized enterprises in Vietnam. Under the partnership, the two companies are jointly developing an integrated B2B fintech service that links VNPT E-Pay's point-of-sale systems and payment gateway services with Webcash Vietnam's electronic tax invoice solution WeTax, with the aim of building a unified service covering payments, taxation and cash management to improve operational efficiency for Vietnamese small and medium-sized enterprises.


igiza77@heraldcorp.com