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The Republic of Korea, located on the southern half of the Korean Peninsula, is considered the 3rd largest economy in Asia and one of the most technologically advanced nations in the world. Company registration in South Korea offers foreign investors a strong platform to tap into the dynamic East Asian market, supported by a highly skilled workforce, modern infrastructure, and pro-business government policies.
With Corpbiz’s consultants at the wheel, the global investors will be able to dedicate their time and resources to other important business channels. Our team follows a streamlined and result-oriented approach, thereby ensuring that your business setup in South Korea is completed efficiently, transparently, and without unnecessary delays.
The foreign investors opting for company formation in South Korea enjoy several benefits, as discussed below:
South Korea, strategically located between China and Japan, provides businesses with easy access to major Asian markets and over 60 cities across the region, thereby making it an ideal hub for trade and investment in East Asia.
South Korea has signed multiple free trade agreements with major economies, including the United States, the European Union, Canada, and ASEAN, thereby enabling businesses to benefit from reduced tariffs and improved market accessibility.
Company registration in South Korea allows access to a well-developed infrastructure, including advanced transportation networks, logistics systems, and communication technologies, thereby ensuring smooth business operations and connectivity.
South Korea is known for its well-educated and technologically proficient workforce, supported by strong R&D initiatives and a culture of innovation that promotes business growth.
The foreign investors are allowed to freely transfer capital, dividends, and profits abroad, guaranteeing flexibility in financial management and investment returns. It is one of the significant benefits of company formation in South Korea.
South Korea offers a range of tax incentives, such as tax holidays and property tax exemptions, to encourage foreign investment and business growth. It is one of the key benefits of company registration in South Korea.
The legal requirements needed to register a company in South Korea are as follows:
The list of documents required for online company registration in South Korea is as follows:
Have a look at the following step-by-step guide required for the company registration in South Korea:
Choose a Business Structure
The first step requires the applicant to choose a legal business structure for company registration in South Korea that best fits their business needs.
Reserve a Unique Business Name
The next step requires the applicant to check and reserve a unique business name through the Supreme Court Registry Office.
Prepare Necessary Documents
The next step requires the applicant to prepare and notarize all necessary documents, including, the AOA, registered leave agreement, etc.
Apply to the Korean Commercial Registry
In the next step, the applicants must file an online application with the Commercial Registry or the local District Court of South Korea.
Issuance of Certificate of Incorporation
Once the registration is processed, the authorities issue a certificate of incorporation, thereby confirming the company’s legal existence in South Korea.
Register for Taxation
After company registration in South Korea, the applicant company must register with the National Tax Service to obtain a Tax Registration Number.
Open a Corporate Bank Account
Next, a corporate bank account must be opened to deposit the initial capital and manage ongoing business transactions in South Korea.
Obtain Necessary Licenses and Permits
Lastly, the businesses must obtain necessary sector-specific licenses and permits from the relevant ministries or regulatory bodies.
The different types of business structures for South Korea company formation are discussed below:
A limited liability company, commonly known as Yuhan Hosea, offers limited liability to its members. It is considered an ideal business structure for small to medium-sized enterprises and foreign subsidiaries that do not require public share offerings.
A joint stock company, commonly known as Chusik Hosea, is one of the most common forms of company for medium and large-scale businesses, allowing limited liability protection for its shareholders.
A sole proprietorship, commonly known as Geonhoesa, is one of the simplest business structures owned and managed by a single individual who assumes full liability for business operations.
A general partnership, commonly known as Hapmyeong Hosea, is a business structure where all partners share unlimited liability for the business debts and obligations.
A limited partnership, commonly known as Hapja Hosea, is a business structure that includes at least one general partner and one or more limited partners with limited liability up to the amount of capital contributed.
A branch office is an extension of a foreign parent company that engages in profit-generating activities in South Korea. It is one of the business structures for South Korea company formation.
A representative office, also known as a liaison office, is an extension of a foreign parent company that cannot be engaged in commercial or revenue-generating activities.
When looking for South Korea company formation, choosing the right business structure depends on your business goals, ownership preferences, and operational requirements. Have a look at the comparison of the key business structures available for investors to register a company in South Korea:
| S. No. | Aspect | Limited Liability Company | Joint Stock Company | Branch Office | Representative Office | Partnership |
|---|---|---|---|---|---|---|
| 1. | Ownership | 100% foreign ownership | 100% foreign ownership | Owned by a foreign parent company | Owned by a foreign parent company | Formed by two or more partners (either foreign or local) |
| 2. | Liability | Members’ liability is limited to the amount of their contribution | Shareholders’ liability is limited to the amount of their shareholdings | Parent company bears full liability for breach of operations | No liability, as it cannot engage in commercial activities | General partners have unlimited liability, and limited partners have limited liability up to the amount of their investment |
| 3. | Taxation | Subject to Korean corporate income tax | Subject to Korean corporate income tax | Taxed on income generated in South Korea | Not subject to corporate tax | Taxed as a pass-through entity |
| 4. | Best for | Small & medium-sized enterprises | Large corporations, businesses seeking external investors, and public listing | Foreign companies expanding operations in Korea | Companies conducting market research or business promotion | Professional firms or small joint ventures |
| 5. | Status | Separate legal entity | Separate legal entity | Not a separate legal entity from the parent company | Not a legal entity, liaison functions only | Separate entity, depending upon the type of partnership |
The post-compliance requirements for the applicants seeking company formation in South Korea are as discussed below:
After business incorporation in South Korea, the applicants must open a corporate bank account in the company’s name, ensuring management of capital contributions and daily transactions.
After business incorporation in South Korea, the applicants must open a corporate bank account in the company’s name, ensuring management of capital contributions and daily transactions.
You must file Form 1065 (LLCs and LLPs), Form 1120-S (S-Corps), and Form 1120 (C-Corps) for the previous tax year in April.
You must file Form 1065 (LLCs and LLPs), Form 1120-S (S-Corps), and Form 1120 (C-Corps) for the previous tax year in April.
Every company in South Korea must register for taxation with the National Tax Service (NTS) and obtain a Tax Identification Number within 20 days of incorporation.
Every company in South Korea must register for taxation with the National Tax Service (NTS) and obtain a Tax Identification Number within 20 days of incorporation.
Before starting operations, every company in South Korea must apply for industry-specific licenses or permits from the relevant Ministries or Local Authorities.
Before starting operations, every company in South Korea must apply for industry-specific licenses or permits from the relevant Ministries or Local Authorities.
The companies must quarterly file VAT (Value Added Tax) returns and make timely payments based on their taxable sales and purchases throughout the year.
The companies must quarterly file VAT (Value Added Tax) returns and make timely payments based on their taxable sales and purchases throughout the year.
Foreign applicants or companies lacking a resident director must appoint a licensed tax agent to handle tax filings, compliance, and communication in South Korea.
Foreign applicants or companies lacking a resident director must appoint a licensed tax agent to handle tax filings, compliance, and communication in South Korea.
The businesses must maintain accurate accounting records in accordance with the Korean International Financial Reporting Standards.
The businesses must maintain accurate accounting records in accordance with the Korean International Financial Reporting Standards.
Every registered company in South Korea must prepare and file annual financial statements with the District Tax Office and the Commercial Registry within 3 months of the fiscal year-end.
Every registered company in South Korea must prepare and file annual financial statements with the District Tax Office and the Commercial Registry within 3 months of the fiscal year-end.
If the company hires employees, they must register with the relevant authorities for national pension, health insurance, employment insurance, and industrial accident insurance.
If the company hires employees, they must register with the relevant authorities for national pension, health insurance, employment insurance, and industrial accident insurance.
Given below are the free economic zones for company registration in South Korea-
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Written by Aarya Pokharel. Last updated on Nov 11 2025, 09:46 PM
Aarya Pokharel brings 3 years of solid experience in legal research and compliance. Her expertise spans tax filing, secretarial compliances, and advisory services, with a strong focus on delivering precise legal research and strategic advisory support.
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