Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSC's decision, including banking and payment rails.
Get an investment license in South Korea.
Two doors under one Act. The Financial Investment Services and Capital Markets Act authorises dealing, brokerage, collective investment and trust business under article 12 and registers investment advisory and discretionary investment under article 18, each licence assembled from business units the Enforcement Decree prices: KRW 250 million for advisory, KRW 1.5 billion for discretionary management, KRW 3 billion for securities brokerage, KRW 50 billion for dealing in securities. The Financial Services Commission decides an authorisation within three months and a registration within two, on the statute's own clock. No passport reaches Korea - the applicant is a Korean stock company or a branch. The prize is 51.82 million people and a register of 60 securities companies and 334 asset managers.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
South Korea in brief
Authorisation or registration - the Act decides which door.
South Korea licenses financial investment business under the Financial Investment Services and Capital Markets Act, consolidated as Act No. 21448 of 6 March 2026. Article 6(1) names six businesses - investment trading, investment brokerage, collective investment, investment advisory, discretionary investment and trust - and the Act sorts them into two doors. Dealing, brokerage, collective investment and trust need an authorisation from the Financial Services Commission under article 12; advisory and discretionary investment register under article 18, and general private collective investment business registers under article 249-3. Every licence is assembled from business units - around 78, each pairing a business with an instrument scope and an investor class. The Enforcement Decree prices the units: KRW 250 million for investment advisory, KRW 1.5 billion for discretionary investment, KRW 3 billion for securities brokerage, KRW 8 billion for collective investment, KRW 25 billion for trust, KRW 50 billion for dealing in securities and KRW 90 billion for OTC derivatives dealing.
The commercial case is a domestic pool of 51.82 million people, served on KOFIA's member list by 60 securities companies and 334 asset management companies - and a statute that prints its clock. Article 13(2) gives the FSC three months to decide an authorisation, one month where a preliminary authorisation under article 14 already stands; article 19(2) gives two months for a registration. Supplement periods stop the clock, and the last official measurement of actual authorisation time is the FSC's 2014 reform paper: seven to eight months. Cash in customer accounts is insured by the KDIC to KRW 100 million per depositor since 1 September 2025. Corporate tax runs 9%, 19%, 21% and 24% by bracket on the table applying from 2023, VAT is 10% with financial services exempt, and the FSC publishes no application fee - we confirm the charge with the licensing department before filing. We build the file from Seoul.
Two doors under the FSCMA (Act No. 21448): authorisation under article 12 for dealing, brokerage, collective investment and trust; registration under article 18 for advisory and discretionary investment. Equity KRW 250 million advisory, KRW 1.5 billion discretionary, KRW 3 billion brokerage, KRW 50 billion dealing. Three months statutory, two for registrations.
51.82 million people, 60 securities companies and 334 asset managers on KOFIA's list, KDIC cover of KRW 100 million; corporate tax 9-24% by bracket, VAT 10% with finance exempt. Built end to end from Seoul.
The two doors
Registration at KRW 250 million - authorisation from KRW 3 billion.
The FSCMA grades the entry by business unit: advisory and discretionary investment register under article 18 from KRW 250 million; dealing, brokerage, collective investment and trust need an article 12 authorisation, from KRW 3 billion for securities brokerage to KRW 90 billion for OTC derivatives dealing. We fix the units first, then build once.
Registration at KRW 250 million - or authorisation from KRW 3 billion.
01 - ADVISORY · DISCRETIONARY REGISTRATION
The registered manager
Paid investment advice and discretionary mandates under article 18 - KRW 250 million of equity for advisory (KRW 100 million where the scope is limited to fund units, derivative-linked securities and repos), KRW 1.5 billion for discretionary investment (KRW 500 million for professional investors only), one full-time advisory professional or two full-time fund managers, and a two-month statutory clock under article 19(2).
Paid investment advice and discretionary mandates under article 18 - KRW 250 million of equity for advisory (KRW 100 million where the scope is limited to fund units, derivative-linked securities and repos), KRW 1.5 billion for discretionary investment (KRW 500 million for professional investors only), one full-time advisory professional or two full-time fund managers, and a two-month statutory clock under article 19(2).
- ✓Investment advisory - KRW 250 million (unit 5-1-1)
- ✓Limited-scope advisory - KRW 100 million
- ✓Discretionary investment - KRW 1.5 billion
- ✓Professional-only discretionary - KRW 500 million
- ✓1 advisory professional · 2 fund managers, full-time
- ✓Two-month clock - article 19(2)
02 - FULL AUTHORISATION
KRW 3 billion-90 billion by unitThe authorised firm
Dealing, brokerage, collective investment and trust business under article 12 - KRW 3 billion for securities brokerage, KRW 8 billion for collective investment, KRW 25 billion for trust, KRW 50 billion for dealing in securities (KRW 25 billion for professional investors only) and KRW 90 billion for OTC derivatives dealing, with the computer systems and physical facilities of article 12(2)4 and a three-month clock under article 13(2).
Dealing, brokerage, collective investment and trust under article 12 - KRW 3 billion brokerage, KRW 8 billion collective investment, KRW 25 billion trust, KRW 50 billion dealing, KRW 90 billion OTC derivatives; three-month clock.
- ✓Securities brokerage - KRW 3 billion (unit 2-1-1)
- ✓Collective investment - KRW 8 billion (unit 3-1-1)
- ✓Trust business - KRW 25 billion (unit 4-1-1)
- ✓Dealing in securities - KRW 50 billion · KRW 25 billion professional-only
- ✓OTC derivatives dealing - KRW 90 billion
- ✓Three-month clock - article 13(2)
Equity figures per Enforcement Decree Table 1 (amended 21 October 2021) and Table 3 (version of 15 January 2019). The FSC's guide pages print no application fee and no supervisory-contribution amount, so both are confirmed with the FSC before filing.
Why South Korea for a new firm
Six reasons managers file with the FSC.
The pool is the argument; the statutory clock and the graded equity table are what make the file plannable.
✓
51.82 million people
The 2025 census count - a domestic pool that 60 securities companies and 334 asset managers on KOFIA's list serve, and that no offshore licence reaches.The pool itself.
✓
An equity table you can read
KRW 250 million for advisory, KRW 1.5 billion for discretionary mandates, KRW 3 billion for brokerage, KRW 50 billion for dealing - fixed sums per business unit, printed in the Decree.Fixed sums per business unit.
✓
A clock in the statute
Three months for an authorisation under article 13(2), one month after a preliminary authorisation, two months for a registration under article 19(2).3 months · 2 registration.
✓
Products added by registration
Since the amendment effective 9 December 2021, a further product inside an authorised business is a registration matter, not a fresh authorisation.Second product cheaper.
✓
KRW 100 million of KDIC cover
Cash in customer accounts at investment traders and brokers is insured to KRW 100 million per depositor since 1 September 2025, doubled from KRW 50 million.Customer cash insured.
✓
The candid warning
No passport, a Korean stock company or branch as the only vehicle, a file in Korean, and no fee schedule on the FSC's pages - South Korea is bought for its market, not for convenience.No passport, no fee list.
How it compares
How South Korea differs from other routes.
The honest comparison: a two-door statute with a printed clock and a deep domestic pool - against neighbours with lower advisory floors or faster administrative timetables.
South Korea vs other jurisdictions
| Feature |  South Korea | Other jurisdictions |
|---|---|---|
| Regime | FSCMA authorisation (art. 12) or registration (art. 18) | FIEA registration ladder - Japan |
| Capital | KRW 250M advisory · KRW 50bn dealing | ¥5M deposit → ¥50M Japan · NT$20M-NT$400M Taiwan |
| Scope | Domestic market · no passport | Domestic too - no Asian passport exists |
| Timeline | 3 months statutory · 2 for registration | 2 + 1 months Taiwan · 90 + 60 days Thailand |
Regime
South KoreaFSCMA authorisation (art. 12) or registration (art. 18)
Other jurisdictionsFIEA registration ladder - Japan
Capital
South KoreaKRW 250M advisory · KRW 50bn dealing
Other jurisdictions¥5M deposit → ¥50M Japan · NT$20M-NT$400M Taiwan
Scope
South KoreaDomestic market · no passport
Other jurisdictionsDomestic too - no Asian passport exists
Timeline
South Korea3 months statutory · 2 for registration
Other jurisdictions2 + 1 months Taiwan · 90 + 60 days Thailand
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| South Korea | FSC - FSCMA authorisation / registration | 9% / 19% / 21% / 24% | KRW 250M advisory · KRW 50bn dealing |
 Japan | FSA - IM registration | ≈30% effective | ¥50M · QI route ¥10M |
 Taiwan | FSC / SFB permit + licence | 20% CIT | NT$20M SICE · NT$200M broker · NT$400M dealer |
 Thailand | SEC recommendation · Minister's licence | 20% CIT | THB 1M advisory · THB 100M dealing |
South KoreaLicense typeFSC - FSCMA authorisation / registration
Taxation9% / 19% / 21% / 24%
RequirementsKRW 250M advisory · KRW 50bn dealing
JapanLicense typeFSA - IM registration
Taxation≈30% effective
Requirements¥50M · QI route ¥10M
TaiwanLicense typeFSC / SFB permit + licence
Taxation20% CIT
RequirementsNT$20M SICE · NT$200M broker · NT$400M dealer
ThailandLicense typeSEC recommendation · Minister's licence
Taxation20% CIT
RequirementsTHB 1M advisory · THB 100M dealing
Before you apply
Requirements for the Korean licence.Requirements for the licence.
The FSS reviews people, shareholders and systems before it reads the balance sheet. The checklist below is what a passing file contains.
01
Korean entity - a stock company under the Commercial Act, or a foreign financial investment business entity that has installed a Korean branch (art. 12(2)1; art. 18(2)1 for registrations); individuals cannot be licensed.
02
Equity by business unit - the Act floors it at KRW 500 million per authorised unit (art. 12(2)2) and KRW 100 million per registered unit (art. 18(2)2); the Decree tables set KRW 250 million for advisory, KRW 1.5 billion for discretionary investment, KRW 3 billion for securities brokerage, KRW 8 billion for collective investment and KRW 50 billion for dealing in securities.
03
Professionals - at least one full-time investment advisory professional for an advisory registration, two full-time fund managers for discretionary investment, three where both are held (FSS registration guide).
04
Executives - clear of the article 24 disqualifications: minors, bankrupts, criminal convictions within the set periods, removal from a financial position within five years.
05
Major shareholders - investing capability, financial standing and social credibility under art. 12(2)6 and 12(2)6-2, screened for financial-law breaches and defaults.
06
Physical set-up - for an authorised firm, human resources, an electronic computer system and other facilities adequate to protect investors (art. 12(2)4).
07
Conflict-of-interest system - internal control standards and information barriers between businesses, documented for the FSS.
08
Client assets - investor deposits placed with the Korea Securities Finance Corporation or in trust (art. 74) and investors' securities with the Korea Securities Depository (art. 75).
09
Net operating capital - kept at or above the aggregate risk of the firm's assets and liabilities from day one (art. 30, the NCR method set by the FSC).
10
The document set - notarised articles, corporate register extract, executive CVs, audit report, health-insurance staff list, professionals' licence certificates and credit reports, filed in Korean.
01
Stock company or branch.
02
Equity per Decree table.
03
1 / 2 / 3 professionals.
04
Executives clear art. 24.
05
Major shareholders screened.
06
Systems and facilities.
07
Information barriers.
08
KSFC and KSD custody.
09
NCR kept - art. 30.
10
Korean document set.
Reflects the FSCMA (Act No. 21448), Enforcement Decree Tables 1 and 3 and the FSS registration guide as of 2026. Director residency is confirmed per structure rather than assumed.FSCMA + Decree Tables 1 and 3, as of 2026.
How it works
From first call to the Official Gazette.
01
Door and units
Authorisation or registration, the business units, general or professional investors only - fixed in writing before any drafting.Fixed in writing.
02
Company and capital
Korean stock company or branch, equity paid to the Table 1 or Table 3 figure, professionals and executives in place.Paid to the table.
03
FSS pre-consultation
The draft file tested with the FSS before it is formal - the step the regulator itself lists first.FSS, before it is formal.
04
FSC filing and FSS review
The FSC refers the file to the FSS; three months statutory for an authorisation, one after a preliminary, two for a registration - supplement periods excluded.3 months · 2 registration.
05
Gazette and launch
The FSC publishes the licence in the Official Gazette or refuses in writing; KSFC, KSD and KOFIA arrangements go live.Published, then live.
Quick facts
RegulatorFSC · FSS
FrameworkFSCMA, Act No. 21448
Advisory registrationKRW 250 million
Discretionary registrationKRW 1.5 billion
Securities brokerageKRW 3 billion
Dealing in securitiesKRW 50 billion
Statutory clock3 months · 2 months registration
Corporate tax9-24% by bracket
The statute prints a clock and stops it while you answer supplement requests. The last official measurement of actual authorisation time is the FSC's 2014 reform paper - seven to eight months, targeted at three to four - and nothing newer is published.
On the ground in South Korea
Run from our Seoul office.
Prifinance - South Korea
Seoul · South Korea
Seoul, South Korea
01
Door and units
Authorisation or registration, and which of the around 78 business units - chosen against the real client book before the company is formed.Chosen to the book.
02
The FSS dialogue
The optional pre-consultation the FSS lists first in its own procedure - scripted, so the formal file arrives pre-answered.Pre-answered filing.
03
People and shareholders
Advisory professionals and fund managers hired to the FSS headcount, executives screened against article 24, the major-shareholder file built to art. 12(2)6.Hired to the headcount.
04
Gazette to launch
KSFC deposit arrangements, KSD custody, KOFIA membership and banking sequenced with the FSC's decision - live in the market.KSFC, KSD, KOFIA live.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in South Korea.
A progressive corporate table for a domestic pool of 51.82 million people - with the 2026 brackets confirmed before any model is built.
9% to 24% by bracket
9% on a tax base up to KRW 200 million, 19% to KRW 20 billion, 21% to KRW 300 billion, 24% above - the table applying from business years beginning 1 January 2023.Four brackets, from 2023.
The 2026 table
The National Tax Service publishes a separate rate table for business years from 2026, following the tax reform announced on 31 July 2025; the 2026 brackets are confirmed against that table before any model is built.Confirmed before modelling.
Local income tax on top
Local income tax adds 10% of the national corporate tax on top of each bracket; the local layer is confirmed per structure when the model is built.Of the national tax.
VAT 10%, finance exempt
The standard rate is 10% with 0% on exports; financial and insurance services are exempt under VAT Act art. 26(1)11. How far the exemption reaches over each service in your set is confirmed per structure.Finance exempt.
Dividend withholding: per treaty
The domestic withholding rate on dividends paid to a non-resident company, and the treaty rate that may replace it for your holding, are confirmed in the quote before any distribution is modelled.Confirmed per treaty.
Securities transaction tax
A securities transaction tax applies to share sales from a dealer's own book; the current rate is confirmed before it goes into the model.Rate confirmed.
Tax summary
Corporate tax9% / 19% / 21% / 24%
Local income tax+10% of national · confirmed per structure
VAT10% · finance exempt
Dividend withholdingConfirmed per treaty
2026 rate tableConfirmed before modelling
*Figures as of 2026 per Korean law as printed by Invest KOREA (table applying from 2023). The NTS's 2026 table is confirmed before modelling; local-layer and group outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Korean stock company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
Follow Prifinance
Active across our channels.
South Korea · FSC
Launch your investment firm in South Korea with expert support.
Full-service assistance - from the Korean stock company and the FSS pre-consultation to the FSC's authorisation or registration, KOFIA membership and launch - run through our Seoul office.
Get a consultation →Free legal opinion
Is South Korea the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Korean investment licence, answered.
What licence does an investment firm need in South Korea?+
One of two under the FSCMA: an authorisation from the FSC under article 12 for investment trading, brokerage, collective investment and trust business, or a registration under article 18 for investment advisory and discretionary investment (article 249-3 for general private collective investment). Each is built from business units - around 78 in the FSS's count.
What capital is required?+
Per the Enforcement Decree tables: advisory KRW 250 million (KRW 100 million limited scope), discretionary KRW 1.5 billion (KRW 500 million professional-only), private collective investment KRW 1 billion; brokerage KRW 3 billion, collective investment KRW 8 billion, trust KRW 25 billion, dealing in securities KRW 50 billion, OTC derivatives dealing KRW 90 billion.
What separates an authorisation from a registration?+
The FSC's discretion and the file behind it. Authorised businesses must show human resources, an electronic computer system and physical facilities adequate to protect investors (art. 12(2)4) and carry a three-month clock; registrations are examined on people, shareholders and conflict controls on a two-month clock. Since 9 December 2021 a further product inside an authorised business is itself a registration.
How long does the FSC take?+
Three months for an authorisation under article 13(2), one month where a preliminary authorisation under article 14 already stands, two months for a registration under article 19(2) - with supplement periods excluded. No newer official statistics exist; the FSC's 2014 reform paper recorded seven to eight months in practice.
Can a foreign firm hold the licence?+
Yes, through a Korean stock company or a branch of the foreign financial investment business entity (art. 12(2)1(b); art. 18(2)1(b)). No statutory foreign-ownership ceiling exists; the major-shareholder tests of art. 12(2)6 apply instead, and the December 2021 amendment simplified conversion between branch and subsidiary.
What people does the FSS expect?+
For a registration, at least one full-time investment advisory professional, two full-time fund managers for discretionary investment, three where both are held. Executives clear the article 24 disqualifications; a compliance officer follows from the Act on Corporate Governance of Financial Companies. No headcount is printed for authorised businesses.
Are client assets protected?+
Investor deposits sit with the Korea Securities Finance Corporation or in trust (art. 74) and securities with the Korea Securities Depository (art. 75). The KDIC insures cash in customer accounts at investment traders and brokers to KRW 100 million per depositor since 1 September 2025; funds, stocks and ELS are not covered.
How are Korean investment firms taxed?+
Corporate tax of 9%, 19%, 21% and 24% by bracket on the table applying from 2023, local income tax of 10% of the national tax, VAT at 10% with financial services exempt. The NTS's separate 2026 table and the non-resident dividend rate are both confirmed in the quote before any model is built.
South Korea or Japan for a new firm?+
Japan is the cheaper first step: advisory registers with no capital minimum against a ¥5 million deposit, investment management at ¥50 million, and the FSA runs English-language entry support. South Korea answers with a statutory clock, KDIC cover of KRW 100 million and 51.82 million people, at KRW 250 million for advisory and a file in Korean. We model both.
Why Prifinance for South Korea?+
We choose the door and the business units against your real client book, script the FSS pre-consultation, and file the Korean-language document set with professionals and major-shareholder evidence already in place - run from our Seoul office with Dubai behind it for the group structure above the firm.
What licence?+
Authorisation or registration.
Capital?+
KRW 250M to 90bn by unit.
Which door?+
Art. 12 vs art. 18.
How long?+
3 months · 2 registration.
Foreign owner?+
Stock company or branch.
People?+
1 / 2 / 3 professionals.
Client assets?+
KSFC, KSD, KDIC KRW 100M.
Taxes?+
9-24%; 2026 table confirmed.
Or Japan?+
Deposit entry vs clock.
Why you?+
Door chosen to the book.
Client notes
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