Make It Official: Everything You Need to Register Your Business in Korea

South Korea isn’t just keeping pace with global innovation, it’s leading the charge. Backed by world-class digital infrastructure, a tech-savvy consumer base, and a government that actively supports business growth, Korea offers fertile ground for companies ready to scale with intention. This isn’t about chasing buzzwords. It’s about entering a market where technology, design, and commerce operate in harmony—and where the speed of progress matches your ambition.

But entering a new country isn’t simply a decision—it’s a strategic process. From legal structure to ongoing compliance, every step matters. That’s where this guide comes in: a clear, actionable starting point for businesses serious about expanding into Korea.

Step-by-Step: Starting a Business in South Korea

1. Choose the Right Business Structure

Your business structure will shape everything—from liability and governance to taxation and flexibility. In South Korea, the primary entity types include:

• LLC (Yuhan Hoesa): Ideal for small to medium-sized businesses seeking limited liability and operational flexibility.
• Joint Stock Company (Chusik Hoesa): Designed for larger enterprises or businesses with multiple shareholders; offers robust transparency and growth potential.
• Branch or Representative Office: Suitable for foreign companies looking to establish a presence without forming a separate legal entity. (Note: Representative offices are limited to non-commercial activities like market research.)

2. Register Your Business Name

Your company’s name is your first public-facing asset. It should:

• Align with your brand identity
• Comply with Korean naming conventions
• Be registered officially with the Corporate Registry

3. Draft and Notarize Your Articles of Incorporation

This foundational document outlines your company’s purpose, internal governance, shareholder rights, and key operational details. It must be notarized before filing with Korean authorities.

4. Submit Incorporation Documents

Prepare and file the following:

• Notarized Articles of Incorporation
• Proof of capital investment
• Identification documents (passports, ARC if applicable)
• Required government filing fees

5. Apply for Business Licenses (If Required)

Licensing needs vary by sector. For example:

• F&B businesses require sanitation permits
• Tech and telecom firms may need regulatory approvals
  Always verify with the relevant ministry or municipal office.

6. Register for Taxation and Social Contributions

To operate legally, your company must:

• Register with the National Tax Service (NTS)
• Enroll in National Pension, Health Insurance, and Employment Insurance programs

7. Maintain Post-Launch Compliance

Once operational, ongoing obligations include:

• Filing annual reports
• Conducting shareholder meetings (if applicable)
• Keeping licenses and certifications up to date

Special Guidance for Foreign-Owned LLCs

If you’re a foreign national founding a Korean LLC, additional steps include:

1. Notify a Foreign Exchange Bank (FEB) of your capital investment
2. Deposit funds into a temporary Korean bank account
3. Complete incorporation through the Korean court system
4. Register with the tax authority
5. Open a permanent corporate bank account
6. Register as an FDI (Foreign Direct Investment) entity within 30 days of your capital deposit

Business Entity Snapshot: Choose What Fits Best

Checklist: Before You Begin

Ensure you’re fully prepared with:

• Capital Investment: Varies by industry—plan accordingly
• Business Plan: Clear, strategic, and aligned with Korean market norms
• Legal Documentation: Passports, IDs, and visa or ARC (if required)
• Registered Address: Must be a physical office or compliant virtual address

Need Help Getting Started?

Starting a business abroad can feel overwhelming—but you don’t have to do it alone. At Pearson & Partners, we break down regulatory barriers, guide you through each requirement, and help you establish a solid foundation so you can focus on what matters most: building and growing your business in Korea.

📞 Let’s talk. Book a consultation today and take the first confident step toward success in South Korea.

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