Loading Macroeconomic Data
Fetching live data from World Bank...
Loading Macroeconomic Data
Fetching live data from World Bank...
Complete guide: entity types, registration, costs, taxes, labor laws, and break-even analysis
~25 days
Setup Time
~$300
Setup Cost
24%
Corporate Tax
100%
Foreign Ownership
#5
Ease of Business
| Entity | Min Capital | Foreign % | Liability | Min Shareholders | Best For |
|---|---|---|---|---|---|
Chusik Hoesa (Stock Company) μ£Όμνμ¬ | None | 100% | Limited | 1 | Most common and credible entity for foreign investment |
Yujan Hoesa (LLC) μ ννμ¬ | None | 100% | Limited | 1 | Simpler structure, lower compliance costs |
Branch Office | None | 100% | Unlimited | 0 | Extension of foreign company β full commercial activities allowed |
Liaison Office | None | 100% | Unlimited | 0 | Non-revenue activities β market research, quality control |
Report Foreign Investment
File investment report with KOTRA or designated bank
0-1 days
Free
KOTRA / Bank
Transfer Investment Funds
Remit capital to Korean bank account under investment report
1-5 days
Free
Foreign Exchange Bank
Register Company
File with District Court registry β articles, director details
3-7 days
~$300
District Court
Register with Tax Office
Obtain business registration certificate from NTS
1-5 days
Free
National Tax Service
Register Foreign Investment Entity
File with MOTIE for foreign-invested enterprise status
3-7 days
Free
MOTIE
$1600/mo
Minimum Wage
$3000/mo
Average Wage
40 hrs/week
Work Hours
15 days/year
Paid Leave
4 weeks/year
Severance
10.5% of salary
Employer Social Security
9.5% of salary
Employee Social Security
Required
Foreign Worker Permit
Foreign Worker Quota: E-7 visa for skilled workers, D-8 for investment. Corporate card (D-8) for investors >$100K.
Work Permit Process: Employer applies for E-7 visa through Ministry of Justice. Labour market test required for most categories.
#5/190
Ease of Business Rank
4 days
Starting a Business
5.5 days
Registering Property
290 days
Enforcing Contracts
63/100
Corruption Perception
98%
Internet Penetration
KRW
Currency
UTC+9
Time Zone
16
Retail (months)
12
F&B (months)
14
Tech (months)
26
Manufacturing (months)
10
Services (months)