{"id":18727,"date":"2022-07-07T15:16:05","date_gmt":"2022-07-07T06:16:05","guid":{"rendered":"https:\/\/inpyeonglaw.com\/?p=18727"},"modified":"2024-09-11T18:32:59","modified_gmt":"2024-09-11T09:32:59","slug":"%ec%9e%90%eb%ac%b8-guide-to-procedure-for-establishing-foreign-investment-corporation","status":"publish","type":"post","link":"https:\/\/inpyeonglaw.com\/archives\/18727\/","title":{"rendered":"[\uc790\ubb38] Guide to Procedure for establishing Foreign investment corporation"},"content":{"rendered":"

Our law firm is composed of experts in various fields from establishment of a Korean corporation. We will provide a kind and detailed explanation, and do our best from the customer’s perspective.<\/span><\/p>\n

\u25a0 Company establishment process in Korea<\/b><\/span><\/p>\n

    \n
  1. \n

    Reporting foreign exchange to bank<\/u><\/span><\/p>\n<\/li>\n

  2. \n

    Registration of establishment to court<\/u><\/span><\/p>\n<\/li>\n

  3. \n

    Business registration to tax office<\/u><\/span><\/p>\n<\/li>\n

  4. \n

    Opening banking account of the company<\/u><\/span><\/p>\n<\/li>\n

  5. \n

    Registering as a Korean corporation (if needed)<\/u><\/span>.<\/span><\/span><\/p>\n<\/li>\n<\/ol>\n

    Our work scope is just as above. We will guide and assist you in detail.<\/span><\/p>\n

     <\/p>\n

    \u25a0 Generally recommended types of company<\/b><\/span><\/p>\n

    In most cases, it is established as a stock company. It can be established as a limited company, and there are differences as shown in the table below.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
    <\/td>\nstock company<\/strong><\/span><\/td>\nlimited company<\/strong><\/span><\/td>\n<\/tr>\n
    purpose<\/strong><\/span><\/td>\nSuitable for large companies with many shareholders<\/span><\/td>\nSuitable for small businesses<\/span><\/td>\n<\/tr>\n
    capital<\/strong><\/span><\/td>\nYou can start a company with a small amount of money, but\u00a0In order to receive the benefits under the Foreign Investment Promotion Act, it is recommended to establish an establishment with more than KRW 100 million.<\/span><\/td>\n<\/tr>\n
    unit of equity<\/strong><\/span><\/td>\nKRW 100 or more<\/span><\/td>\n<\/tr>\n
    share transfer<\/strong><\/span><\/td>\nGenerally available<\/span><\/td>\nApproval from the general meeting of members is required.<\/span><\/td>\n<\/tr>\n
    corporate bonds<\/strong><\/span><\/td>\nApproval from the board meeting is required.<\/span><\/td>\nNOT available<\/span><\/td>\n<\/tr>\n
    director<\/strong><\/span><\/td>\nA corporation with less than KRW 1 billion in capital may have one or two directors.<\/span><\/td>\nOne or more registered executives are required.<\/span><\/td>\n<\/tr>\n
    auditor<\/strong><\/span><\/td>\nCompanies with less than KRW 1 billion in capital are not required.<\/span><\/td>\nNOT required<\/span><\/td>\n<\/tr>\n
    external<\/strong><\/span>
    \naudit<\/strong><\/span><\/td>\n    		If two or more of the following conditions are met: total assets of KRW 12 billion, total liabilities of KRW 7 billion, sales of KRW 10 billion, and 100 employees, an external audit by an accounting firm is required.<\/span><\/td>\nIf the number of employees (investors) is 50 or more and a total of 3 or more conditions are met, including the requirements for establishment of a joint stock company, an external audit by an accounting firm is required.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

     <\/p>\n

     <\/p>\n

    A limited liability company can also be established. If you have any questions, please ask and I will explain in detail.<\/span><\/p>\n

    When submitting documents prepared (COI, POA, etc.) to the registry office(court), a notarized translation is required. The fee of notarization of translation may be added later.<\/span><\/p>\n

    A\u00a0<\/span>Korean Corporation(\uc678\uad6d\uc778\ud22c\uc790\uae30\uc5c5)<\/u><\/span>, which has some tax benefits, can be established by initially remitting KRW 100,000,000 or more.<\/span><\/span><\/p>\n

    Let us know the shareholders\u2019 information(company name, address, representative, COI, etc.). Please provide us with your shareholder information and we will guide you through the rest of the process.<\/span><\/p>\n

    If you have any question, please feel free to email us.<\/span><\/p>\n

    Best Regards,<\/span><\/p>\n

    Law Office Inpyeong.<\/span><\/p>\n

    \n","protected":false},"excerpt":{"rendered":"

    Our law firm is composed of experts in various fields from establishment of a Korean corporation. We will provide a kind and detailed explanation, and do our best from the customer’s perspective. \u25a0 Company establishment process in Korea Reporting foreign exchange to bank Registration of establishment to court Business registration to tax office Opening banking […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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