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Establish a Limited Liability Company in Korea

Establish a Limited Liability Company in Korea

The limited liability company in Korea is chosen by many foreign investors who want to open a business in this country. According to the amended Commercial Code of Korea some of the characteristics of the limited liability companies in Korea have changed in order to make this legal form even more efficient for investment. One of our consultantswho are specialists in starting a business in Korea can help you with updated information concerning the opening of a limited company in this country. We are also at your service for immigration to South Korea.

Characteristics of the limited liability company in Korea

limited liability company in Korea is called Yuhan Chaekim Hoesa. This type of legal structure can have now, after the adoption of the amended Commercial Code, an unlimited number of members. The liability of each participant is calculated depending on its financial contribution to the company.

Moreover there are no capital requirements for local investors. However, under the act regulating foreign entrepreneurship, it is required that at least KRW 100 million be deposited in a company with foreign capital in Korea. A limited company in Korea can be easily converted into a joint stock company by a majority vote.

You can ask our specialists in company formation in Korea about other modifications which have occurred in the commercial legislation of this state, having a direct impact on the characteristics of limited liability companies. Our immigration lawyers in South Korea are also at your disposal if you want to move here.

You can also rely on our local lawyers for support in South Korean residency matters. If you are already in the country and want to prolong your stay here, there are specific steps to complete. You can rely on us in this sense. We can advise on the authorities you need to contact and the documents to supply.

Why open a limited liability company in Korea?

The lack of minimum capital share requirements when setting up a limited liability company is one of the main reasons which convince investors to choose this legal structure for their business in Korea. Moreover, the simplicity and the flexibility in the share transferring make of the limited liability company a comfortable legal structure for its members. Our immigration lawyers in Korea can guide you in relocation by starting a business.

The limited liability company in Korea is very similar to companies from the US or Europe which allow many foreign investors to feel familiar in the legal climate of Korea and to be able to open a legal entity very quickly in this country.

Feel free to contact our Korea company formation experts for more specific details concerning the registration of a limited liability company in this country.  You can also contact us for assistance in immigration to Korea.