BizNup Refunds Surpass 320 Billion KRW in Managed Refunds... "We Will Reward Consumer Trust"

Tax automation startup G Enterprise (CEO Seongbong Lee) has once again seen a sharp increase in the refund management amount of its BizNep Refund service. Internally, it is widely agreed that the newly introduced ‘Responsibility Refund System’ last month played a positive role.

[BizNep announced that the scale of business owner refunds managed through its own service has exceeded 320 billion KRW. (Photo by G Enterprise)]

On the 6th, BizNep Refund announced that the business refund amount managed by the service surpassed 320 billion KRW. This represents an increase of nearly 100 billion KRW compared to August.

However, the reason why their growth is attracting attention is that their growth strategy was unrelated to simply increasing size.

BizNep Refund excluded all items from tax filing if the requirements were incomplete, even if the items were eligible for refunds. Additionally, to assist business owners unfamiliar with tax terminology, efforts were made to replace commonly used tax market terms with easier-to-understand language. Rather than exploiting information asymmetry to seek additional profits, the priority was to create a service that users could understand.

Last month, they received positive feedback by introducing the industry’s first ‘Responsibility Refund System.’ This system fully refunds the fees if a customer using the service loses their refund benefits. Recently, they also revamped the service interface to display the refund progress stages, allowing applicants to estimate the expected refund date, which was well received by users.

Seongbong Lee, CEO of G Enterprise, emphasized, “We believe it is BizNep Refund’s duty to consider tax management even after users have received the service,” adding, “The size of the managed refund amount directly reflects the level of trust customers have in the service, and BizNep Refund will continuously strive to become the most trusted refund service brand among business customers.”

Meanwhile, BizNep Refund is an online service that refunds comprehensive income tax and corporate tax overpayments from the past five years that business owners were unaware of. It calculates and displays the expected refund amount within one minute, and users can apply for the actual refund if they wish. Upon application, partnered specialized accountants in correction claims carry out the refund filing tasks tailored to the applicant’s business environment. Recognized for its outstanding tax automation technology, the company has attracted investments from Naver, Naver Financial, Busan Bank, Hana Bank, and NICE Information Service.