The Korean Release offers the necessary functions to use the SAP R/3 system in Korea. You will find some Korean specific functions in the standard SAP system in addition to descriptions on how to realize typical Korean Business Processes using SAP standard processes and functions.

The functionality has been taken over from Korean Localization Version 3.1H. No additional functionality has been added and also all major functions have been transferred to the Rel. 4.5A from the Localization Version 3.1H. To reduce the numbers of the reports, some reports were merged together without eliminating any functions. In the documentation of those reports, there are additional hints how to use them correctly.

The localization focused mainly on financial accounting. Together with Coopers & Lybrand, the gaps between Korean business requirements and the earlier SAP standard software have been analyzed. Based on the recommendation of Coopers & Lybrand, additional functionality and changes in the SAP standard processes have been developed in the Korean Localization Version. The transfer of the functionality from Korean Localization Version to Standard R/3 system now satisfies the major requirements of Korean financial accounting.

The SAP R/3 Korean Release offers:

Korean Tax Reporting: SAP R/3 is able to handle Korean tax reporting. New reporting functionality has been created including:

• Summary of tax invoices
• Entertainment expense list
• Donation list
• Taxes and dues list
• Withholding tax reporting

All tax lists are printed in the mandatory format. The Input and Output VAT summary can create a file which can be passed directly to the tax authorities.

Period Closing: The Korean Release offers a Korean Balance Sheet version and a Korean Profit and Loss statement. The Profit and Loss statement is based on cost of goods sold.

Automatic Payments: Automatic Payments can be made on business place level.

Bill of Exchange and Check management: Bills of exchange and checks can be printed out directly from the system. The form numbers are managed in the system. The mandatory reports on bills of exchange receivable, bills of exchange payable and bills of exchange discounted can be created. Furthermore, it is possible to manage forms purchased from the bank and a report on the usage of the forms can be printed.

VAT Invoice: The system can print out the mandatory VAT invoice.

Asset Accounting: Korean depreciation rules are used in Asset Accounting. This comprises ordinary depreciation as well as special tax depreciation. Several tax reports can be created by the system.

Korean sample company: A Korean sample company has been pre-configured in the system.