Korea is one of the most powerful economies in Asia, and occupies the eleventh rank in the world. The local market is diverse since both family enterprises and business conglomerates are encouraged to develop. The conglomerates of companies called chaebol are a typical form of business organization for Korea. A foreign investor in this country will need specialized legal guidance in order to familiarize with the particularities of this economic system. You can rely on the expertise of our consultants in Korea company registration for speeding up your integration in the business climate of this state.
If you are new on the Korean market you will need to inform yourself on the specific legal forms which are available in this country. The most popular and frequent structures that you can open in Korea are the General Partnership (Hapmyeong Hoesa) and the Limited Liability Corporation (Yuhan Hoesa).
In a general partnership there are several investors each of whom has unlimited liability, thus sharing in equal measure the responsibilities in the company. The limited liability corporation allows up to 50 employees and it is usually the most preferred legal structure for establishing a small or medium business. Our experts in company formation in Korea are ready to give you more information on the choices you have when it comes to the organization of your business in a legal form.
The company formation regulations are so flexible in Korea that you don’t even have to be present in this country in order to establish an enterprise. The whole process of registration can be conducted by one of our consultants in Korea.
The time of registration for a business in this country should not be longer than one week. Preliminary to the application with the authorities you will need to apply for all needed permits and licenses which might be required for the domain in which your company will function. You need to allocate some time as well for the translation of the relevant documentation in Korean.
The Foreign Investment Promotion Act in South Korea sets a minimum of 100 Won (750 Euro) as initial investment capital for international investors. Don’t hesitate to contact our Korean company formation specialists, in order to speed up the registration procedure and enter the local market as soon as possible.
