Tricor Group Embarks on Joint Venture With Korean Professional Services Firm International Outsourcing Inc.

News provided by Tricor Group
October 23, 2013 11:32 Korea Standard Time

HONG KONG--(Korea Newswire) October 23, 2013 -- Tricor Group( (“Tricor”), a member of The Bank of East Asia Group, is pleased to announce its expansion into Korea, a prominent player in the international marketplace.

Tricor has joined forces with International Outsourcing Inc.( (“IOI”), a prestigious professional services provider in Korea, acquiring a 30% interest with effect from September 2013.

IOI specializes in company administration, payroll and executive search services, offering best practices and local knowledge to clients based in Korea. Staffed by experienced professional accountants as well as human resource and IT consultants, IOI is committed to customized solutions and excellence in service. IOI has more than 40 years‘ experience in the field, being formerly the Company Administrative Services division of Samil Accounting Corporation, a member firm of PricewaterhouseCoopers (“PwC”). With the addition of IOI, Tricor’s global network extends to 29 cities across 16 countries/territories with over 1,650 staff strength globally.

Mr. Byung-Doo Choi, CEO of IOI, said, “We are impressed with the scale and quality of Tricor‘s operation in the region. The partnership with Tricor will enhance IOI’s competitive edge in the regional market and provide great opportunities for both our clients and colleagues.”

Mr. Johnny Ng, Tricor Group Chief Executive, said, “South Korea, one of the Four Asian Tigers, is a fast growing developed economy. By teaming up with the highly respected company administrative firm IOI, Tricor is expanding into the important market of Korea. The partnership will further enlarge our Asian servicing network and enable us to provide services to clients entering the Korean market.”

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About Tricor Group

Tricor Group (“Tricor”) is a global provider of integrated Business, Corporate and Investor Services. As a Business Enabler, Tricor provides outsourced expertise in corporate administration, compliance and business support functions that allows clients to concentrate on what they do best -- Building Business.

Tricor has built its reputation and professional expertise through the acquisition of certain practices from major international accounting and professional firms as well as through organic growth and development. Tricor offices are located in Hong Kong (Head Office), Barbados, British Virgin Islands, Brunei, Dubai UAE, India, Indonesia, Japan, Korea, Labuan, Macau, Mainland China, Malaysia, Singapore, Thailand and the United Kingdom.

Tricor's qualified professionals are experts in corporate structuring and advisory functions. In most countries/territories where Tricor operates, Tricor offers services in Accounting; China Entry & Consulting; Company Formation, Corporate Governance & Company Secretarial; Executive Search & Human Resources Consulting; Initial Public Offerings & Share Registration; Fund, Payroll, Treasury & Trust Administration; and Management Consulting.

For more information on Tricor, please visit

About International Outsourcing Inc. (“IOI”)

International Outsourcing Inc. (“IOI”) is an independent professional business services firm based in Seoul, Korea. IOI provides quality outsourcing services in Company Administration, Payroll and Executive Search Services, supported by a professional team of certified public accountants and consultants, and leading edge information systems.

IOI was formerly the Company Administrative Services division of Samil Accounting Corporation, a member firm of PricewaterhouseCoopers (“PwC”). It began operating as an independent professional services entity from 1st January, 2000 and provides a variety of outsourcing services, based on the long-term experience accumulated under Samil Accounting Corporation. IOI has continued its growth since and continues to maintain a close business relationship with its legacy firm.

For more information on IOI, please visit

About The Bank of East Asia

Incorporated in Hong Kong in 1918, The Bank of East Asia (“BEA”) is dedicated to providing comprehensive personal banking, commercial banking, wealth management and investment services to its customers in Hong Kong and other major markets around the world. BEA is the largest independent local bank in Hong Kong, with total consolidated assets of HK$697.4 billion (US$89.9 billion) as of 30thJune, 2013. The Bank is listed on The Stock Exchange of Hong Kong Limited and is one of the constituent stocks of the Hang Seng Index.

With more than 230 outlets worldwide, BEA operates an extensive international network covering Hong Kong and the rest of Greater China, Southeast Asia, the United Kingdom, and the United States. For more information on BEA, please visit any BEA branch or the Bank's homepage at


Ms. Myung-Sook Lim
International Outsourcing Inc.
Tel: (82) 2 3276 0503
Fax: (82) 2 796 7181

Mr. Paul Moyes
Tricor Services Limited
Tel: (852) 2980 1880
Fax: (852) 2861 0285

This is a news release distributed by Korea Newswire on behalf of this company.