Concur Launches Operations In South Korea

Concur, an SAP company and the world’s leading provider of travel, expense and invoice management solutions, today announced its expansion into South Korea. Concur will join SAP’s Seoul office offering Expense solutions to large conglomerates, enterprise businesses and multi-national companies with operations in South Korea.

Barry Long has been appointed as Vice President of Global Sales, Asia Pacific for Concur, and Jaesung Kim is Head of Sales for Concur Korea. Concur will be building out additional sales, solution consulting, marketing, service delivery and business development teams in the coming months.

In the fourth quarter of 2016, among its current customer base in Korea, Concur saw more than 125 percent year-over-year growth in expense transactions, and more than 113 percent growth in reimbursed expense spend. According to the Global Business Travel Association’s BTI Outlook, total South Korean business travel spend was $32.6 billion in 2015. The BTI Outlook projects spend volume will grow at a rate of 4.4 percent per year through 2020, outpacing the 2.6 to 2.8 percent economic growth.

South Korea currently ranks among the top 10 countries for business travel spend, according to the Global Business Travel Association. With today’s launch in South Korea, Concur is now operating in all 10 of the top global markets for business travel.

SAP, which acquired Concur in 2014, will help fuel Concur’s go-to-market strategy in South Korea. Concur offers a fully connected travel, expense and invoice platform ecosystem that integrates its products, suppliers and partners. This open platform connects spend data to deliver insights that help customers and partners run their businesses more efficiently.

 

 

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