South Korea Company Formation

The steps in forming a company are as follows: (i) preparation of incorporation documents, (ii) foreign investment filing, (iii) capital contribution, and (iv) the registration of incorporation at the court registry.

Document Preparation

Preparing the documents to form the company, such documents consist of (a) self-governing documents of the company such as the Articles of Incorporation, (b) documents showing the identity of the shareholders, directors (including the representative director), and (c) documents authorising the agent to incorporate the company and make registration thereof on behalf of the shareholders or the company, as it may be applicable, such as a power of attorney.

Advantages of South Korea Company

  • South Korea company formation allows 100% foreign ownership.
  • The minimum number of shareholders required is one for a Yuhan Hoesa (limited liability company).
  • The corporation tax rate is 20% for the tax base of 200 million Korean Won (€170,000). A rate of 10% applies if income is 100 million KRW (€85,000) or less.
  • According to the survey by the World Bank, South Korea is the world's 8th easiest place to do business. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business.

Company Name

In Korea, only Korean company names are officially used.

Share Capital

In Korea, there is no minimum registered capital. If the registered capital is more than 100 million KRW, stamp tax is paid.

In order to complete the share capital process the company must have a bank account where initial share capital is remitted. This can be either a local account or an offshore account. Evidence of paid capital must be submitted at the time of registering the incorporation of the Company at the court.

Company Shareholders

A shareholder could be a legal person (company) or a natural person (individual).

Company Directors

The company requires one director and one supervisor.

Registered Address / Virtual Office

A lease agreement for a Korea office is required by foreign investors before completing company incorporation in South Korea.

We require a copy of the lease agreement of the office to be used by the Korean company, if client doesn’t have a leased office in Korea, we can arrange a virtual office address with monthly charge of around KRW 240,000 (per month with 6 months’ rent to be paid in advance.

Establishment of Yuhan Hoesa

In South Korea we offer the incorporation of a Limited Liability Company (Yuhan Hoesa).

  • Total number of shareholders for a Yuhan Hoesa may not exceed 50
  • Each director of a Yuhan Hoesa has has the authority to represent the company
  • Yuhan Hoesa do not require an auditor
  • Issue of additional shares must be approved at the Shareholders meeting of Yuhan Hoesa must in the form of amendments to the articles of incorporation.
  • Transfer of Shares of Yuhan Hoesa must always be approved by the shareholders meeting by 3/4 approval

Company registration processes take around 3 weeks.

Post incorporation registrations

Corporate income tax ID registration

VAT registration (if required)

Employer Social Security Registration

Assistance with opening a local Bank account

Court Registration

Upon incorporation of the Company and receipt of the capital contribution, the Company shall register its incorporation at the court of its jurisdiction.

Contact Us
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South Korea Fees to Incorporate
  • Company Formation - £1800
  • Registration Tax - KRW405,000 - £240
  • Provision of Registered Office - £1200
South Korea Annual Maintenance Fees
  • Provision of Registered Office - £1200
  • Directors Register Maintenance - £150
Korea Advantages
  • Time - Up to 3 weeks to incorporate your South Korean company
  • Share Capital - the share capital requirement is £1 : KRW 1700
  • Directors - only 1 director of any nationality is necessary for your company
  • Shareholders - only 1 shareholder is required
  • Shareholders - 100% foreign shareholders allowed
  • Support - using our 20 years experience we guide you throughout every step of the company formation process


Required to Proceed
  • Company Name - so we can check your company name is available
  • Documents - proof of address and copy of your passport
  • Form - complete this form
  • Upload - proof of address & copy passport can be uploaded here