Entity Formation & Setup in South Korea

Set-up Your Company in South Korea

With a continuously growing economy, South Korea is an ideal international trading hub and source of business opportunities for many who are willing to set up business there. NNRoad provides all the necessary guidance and assistance required in setting up an entity in South Korea. Our dedicated team of professionals put in best efforts to understand your business needs and company registration requirements to provide you with the best and most compliant solutions.

 

Business entities you can open in South Korea

1) Joint Stock Company (chusikhoesa)

This is the most commonly used corporate vehicle, as it offers shareholders limited liability, and shares are generally freely transferable.

2) Limited liability company (yuhanhoesa)

As with a joint-stock company, the liability of all shareholders is limited to the amount of their share capital contribution to the company. However, the individual character of each shareholder is taken more into account, transfer of equity is limited, and the company is not open to the public.

3) Private limited company (yuhanchaek-imhoesa)

The liability of shareholders is also limited to the amount of their share capital contribution to the company. In contrast with a limited liability company, internally a private limited company is a type of trade association.

4) General partnership company (hapmyunghoesa)

Members bear direct, joint, and unlimited liability in relation to the business's creditors. This entity is appropriate for an enterprise jointly owned by a small number of persons with a close association.

5) Limited partnership company (hapjahoesa)

This consists of at least one member with unlimited liability and at least one member with limited liability. 

6) Branch and Liaison Office

This usually occurs at the initial stage and is governed by the Foreign Exchange Transactions Act and the Commercial Act. These types of business entities are categorized as a domestic branch of a foreign corporation.  

Our Company Formation Service Includes:

  • Confirm the selection of a business entity type.
  • Advise with the initial capital amount, if applicable.
  • Assist with the selection of entity names.
  • Guiding and preparing legal documents and other incorporating documents if needed.
  • Consult with the entity location, address registration.
  • Prepare and file entity registration (local corporation/FDI company, Branch office, liaison office).
  • Assist in obtaining certificates like Corporate of Seal Impression, business registration, etc.

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