B2B fintech firm Fynoverse Lab said on Sunday it has officially launched Semoa, a tax refund service for sole proprietors.

The company said Semoa uses AI-based screening automation to comprehensively analyse an applicant's business type, tax credit deduction items and past filing history. It features a hybrid structure that links applicants with a high likelihood of refunds to a professional tax firm and provides one-stop support through filing and correction claims.

Fynoverse Lab said it has prepared an operating system for the service in cooperation with Uhyun Tax Accounting Firm, which it said has experience and expertise handling cumulative refunds of more than 50 billion won for many sole proprietor customers. Sole proprietors who want to check their expected refund amount can do so on Semoa's official website by entering the representative's personal information registered with the National Tax Service and completing simple authentication for Hometax and the Korea Workers' Compensation and Welfare Service.

Fynoverse Lab said it plans to use tax data secured through Semoa to advance the service. It also plans to provide tax refund services to corporate businesses and expand into bookkeeping and tax management.

"By combining my experience and technology from working at a major accounting firm as a certified public accountant, we have implemented a service that can be used efficiently in the field, not just a simple refund calculator," Jang Jong-wook, CEO of Fynoverse Lab, said. "Our goal is to provide high-quality tax services by using AI to handle repetitive and standardised areas while concentrating capabilities on sections that require expert verification," he said.