Company registration in South Korea

Yes. The FIPA notification, incorporation, and tax registrations can be handled under power of attorney using apostilled documents. Banks generally prefer to meet the representative director in person, while obtaining a D-8 visa requires the applicant’s presence, so any trip is usually planned around banking and immigration rather than the registry itself.

Turnkey business registration in South Korea starts from $3,900, while a package that includes banking starts from $6,400. The KRW 100 million (≈$70,000) represents investment capital contributed to the company rather than a registration fee. Renewals with accounting start at $2,200 per year.

For FDI status, yes. Registration under FIPA requires at least KRW 100 million per foreign investor, and this status is associated with the D-8 investor visa, the FDI company certificate, and an established repatriation framework. A company may exist below this threshold but will not receive the same FDI status and associated benefits.

Corporate tax is 9% on the first KRW 200 million of profit, 19% on the next bracket up to KRW 20 billion, and 21-24% at higher levels. A local tax equal to 10% of the national corporate tax also applies, giving effective rates of approximately 9.9-26.4%. VAT is 10%, exports may qualify for zero-rating, and dividends paid to non-residents are generally subject to 22% withholding before applicable treaty reductions.

South Korea is open to foreign ownership and foreign direct investment, but the domestic market requires deep localisation. Naver, Kakao and Coupang play a much larger role than comparable global platforms; relationships with conglomerate buyers may take years to develop, and consumers expect products and communication to be adapted to the local environment. In practice, it can be easier to set up a company in South Korea than to build a sustainable market position without a localisation strategy.

Dismissal requires a justifiable reason that can be reviewed by the courts, while statutory severance generally accrues at one month’s salary for each year of service. Working-time rules are also enforced, which means employment contracts, probation periods and fixed-term arrangements should be structured correctly from the first hire.

KC is South Korea’s product-certification system. Electrical goods, children’s products, telecommunications equipment and various other categories may require certification before they can be sold, including testing by accredited laboratories. Timelines can range from several weeks to several months depending on the product category.

Corporate accounts for FDI-registered companies generally take one to three weeks to open. The won is convertible, and dividends can be repatriated through the FDI framework, but cross-border transactions are subject to reporting requirements and banks expect supporting documents to match the underlying contracts. Correct documentation of the original investment and subsequent transfers is therefore important.

The classic FDI tax holidays largely ended in 2019. Other measures remain available, including cash grants for certain investments in advanced technology and materials, support in foreign-investment zones, and the general progressive corporate tax brackets.

Yes. A foreign individual or legal entity can hold 100% of the shares in a Korean company. Foreign investors seeking FDI status must separately satisfy the relevant FIPA requirements, including the KRW 100M investment threshold per foreign investor.

Yes. Most corporate procedures can be completed under power of attorney using apostilled documents, although personal attendance may still be required for banking procedures and for the D-8 investor visa.

The legal incorporation process is only one part of entering the market. Businesses should also plan for Korean-language documentation, local digital platforms, employment rules, any required KC certification, banking requirements, and the commercial importance of localisation before operations begin.

The company itself generally takes two to four weeks to register, including the FIPA notification, capital remittance, court registry, and the relevant certificates. Banking can add another one to three weeks, while the D-8 visa may take three to six weeks. A fully operational Korean company with banking and visa support within approximately two months is a realistic working timeline.