Case Study: Seoul Semiconductor achieves streamlined, error-free VAT/GST refunds and travel expense processing with Fintua

Seoul Semiconductor has successfully integrated Taxback International within its existing SAP Concur system landscape

Seoul Semiconductor, a leading global LED manufacturer, faced a time-consuming, error-prone travel expense process across eight European branches and lacked capacity to reclaim VAT/GST on foreign business expenses. To solve this, Seoul Semiconductor partnered with Fintua and implemented SAP Concur solutions (Concur Travel, Concur Expense and ExpenseIt) integrated with Fintua’s VAT refund services to streamline expense capture and VAT/GST recovery.

Fintua automated retrieval of VAT/GST‑relevant receipts from Concur, enabled one‑click refund claims, standardized currency conversion and removed manual spreadsheet work, turning a complex, risky process into an efficient workflow. The solution now supports roughly 800 business trips and 600–800 annual expense claims for Seoul Semiconductor Europe, has increased VAT refunds and reduced errors and administrative burden, and has been expanded to other subsidiaries.

Seoul Semiconductor

Sun Joong Lee

Team Manager Controlling