In Korea, every business must possess an e-certificate (공인인증서). This electronic identification is essential for interactions with governmental websites, banks, and other entities for company registration verifications. Typically, the bank provides the e-certificate when a company opens a bank account. Below, we’ll explain how to download (you first need to “import” the e-certificate into your […]
Category Archives: Doing Business in Korea
In Korea, the use of electronic signatures is not yet widespread. Instead, it is common practice to rely on a corporate seal registered (법인인감) with the court for various transactions, including the drafting of important contracts and visits to financial institutions. When utilizing a corporate seal, you will be requested to bring the most […]
Today, we’re breaking down the process of setting up a company in Korea, tailored specifically for foreigners or foreign-invested entities. With over 15 years of experience, we’ve crafted this guide to be straightforward and accessible, ensuring it’s easy to follow and helpful for you. 1. Choose Your Company Type: Select a Limited Liability […]
Closing a business in Korea, whether it’s a domestic corporation (including a LLC) or a foreign branch office, involves several legal and administrative steps. Below is an outline of the corporate dissolution and liquidation process in South Korea, highlighting key steps and requirements. Board Resolution: The initial step in the dissolution process is for the […]
Introduction: Foreign Direct Investment (FDI) plays a pivotal role in fueling South Korea’s economic growth and development. In recent years, the Korean government has actively promoted and facilitated FDI to attract foreign capital and expertise. Whether you are considering investing in South Korea or establishing a business here, understanding the FDI regulations is paramount. This […]
I have been working as a USCPA in Korea for over 15 years, primarily assisting foreign companies looking to start businesses in Korea. After assisting with the establishment of their corporations, I provide advisory services and various compliance services, including tax reporting within Korea. I would like to offer some brief advice on a few […]
Business in Korea | Company types Foreign investments are categorized by type for doing business in Korea. Mostly, foreigners can start Korean business by acquiring new or existing stocks, or by establishing a Korean branch or liaison office in Korea. Governing laws are different for the cases. Foreign Direct Invested (FDI) companies are domestic corporations […]
In South Korea, Foreign Direct Investment (FDI) requires an investment by non-Koreans of at least KRW 100 million. Types of FDI include the acquisition of stocks of domestic companies, long-term loans (minimum of five years) from parent companies outside of South Korea, and investments in non-profit corporations in the fields of science & technology. And […]
It’s the most wonderful time of the year! It is in the spirit of Christmas that we say thank you and best wishes for the holidays. Wishing you joy at Christmas and prosperity in the coming year!! Our working hours during the holiday season: Christmas (December 25th): Closed New Year’s Day (January 1st): […]