Webcash will expand supply of its accounting platform, 'Gyeongrinara', to Chinese-affiliated companies that have entered South Korea or are preparing to do so.

Webcash said on Oct. 12 it signed a business agreement with Wiseall to expand supply of Gyeongrinara. Wiseall supports Chinese companies' entry into South Korea.

Under the agreement, Wiseall, as a sales partner, will introduce Gyeongrinara to its clients and support the rollout of the service to China-based companies preparing to enter South Korea.

Webcash will develop functions that allow Gyeongrinara data used by Wiseall's clients to be linked with Wiseall's system. It will also support service operations, including initial data integration and technical support, and plans to cooperate on additional development needed as the number of users grows.

The two companies plan to expand use of Gyeongrinara as Chinese companies in South Korea build accounting and tax management systems needed after establishing local entities.

Louis, co-CEO of Wiseall, stressed that tax and accounting management systems after incorporation are also important for Chinese companies to operate businesses stably in South Korea.

Kang Won-joo (강원주), CEO of Webcash, said it would help companies handle accounting tasks needed in operating local entities in a systematic way.