- Business in South Korea
Expanding to South Korea ? We are here to help.
Begin your path to success for your business in South Korea.
Your trusted partner to expand your business in South Korea.
Identify and assess your business
Determine the most suitable market entry method
Establish and support your market entry efforts
Your Business Needs are Our Priority
There are many considerations when setting up a business in South Korea and we are here to help you with every step in the process. From the requirements to set up an entity through to corporate services – such as accounting and finance, tax and treasure – to payroll, benefits and people advisory, we will work with you and your team to ensure compliance, and to help you maximize your productivity and profitability.
Corporate Secretarial Services
- Entity formation, dissolution and liquidation
- Corporate governance and secretarial services
- Nominee director and registered address
- Compliance health check services
Accounting, Financial Administration, Reporting & Tax Services
- Virtual FC/ CFO Services
- Accounting setup, bookkeeping and month-end closing services
- Bank account opening and cash management services
- Statutory tax filing
- Tax compliance and advisory
Human Resources and Payroll Services
- Payroll services
- Benefits filings and administration
- HR helpdesk
- HR advisory
Employer of Record & Professional Employer Organization (PEO)
- Compliant hiring on client’s behalf
- Employee tax and statutory benefits compliance
- Employment contract drafting
- Termination or renewals
- Compensation gap analysis
- M&A and business carve-out/spin-off advisory
Why Choose Vista Partners?
Vista Partners is a growing team of professionals who live and work in South Korea. We have a deep understanding of the regulatory requirements for setting up an entity and running a business in South Korea. Think of our team as an extension of your team when it comes to Corporate Secretarial, Accounting, Finance & Tax and Human Resource services.
While we have in-depth country experience, all of our communication with you is in English, making it easy to gather information and manage your day-to-day business requirements.
Talk to our experienced consultants today
Connect with the Expert, get 1 to 1 consultation at no cost
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Call +82-2-3487-6105
Insights
Expanding Your Business Into Korea?
Thinking about expanding your business into Korea? Learn more about the cultural differences, benefits and challenges involved with entering this market.
Hear from Our Satisfied Clients
Got questions? Well, we've got all the answers
The business setup costs in South Korea can vary depending on several factors, including the type of business entity you wish to establish and the specific requirements of your industry. Here are some general cost considerations for setting up a business in South Korea:
Registration Fees: When registering your business in South Korea, you will incur registration fees, which can vary depending on the type of entity. For example, registering a corporation (joint-stock company) typically involves higher fees compared to setting up a sole proprietorship or partnership.
Legal and Consulting Fees: It is advisable to seek legal and consulting services to ensure compliance with Korean laws and regulations. These services may include assistance with business registration, drafting legal documents, and obtaining necessary licenses or permits. The fees for such services can vary based on the complexity of your business requirements and the service provider.
Office Space and Utilities: Depending on your business needs, you may require office space, which entails costs such as rent, security deposits, and utility expenses. The cost will depend on factors like location, size, and facilities provided by the office space.
Capital Requirements: In some cases, there may be minimum capital requirements for certain types of businesses. This requirement varies depending on the industry and the business structure you choose.
Accounting and Taxation: You may need to hire an accountant or engage an accounting firm to handle your financial matters and ensure compliance with Korean tax regulations. The costs associated with accounting and taxation services will depend on the complexity of your business and the extent of services required.
Labor Costs: If you plan to hire employees in South Korea, it’s essential to consider labor costs, including salaries, social security contributions, and statutory benefits. The costs will depend on factors such as the skill level of the employees and industry standards.
It’s important to note that these costs are general considerations, and the actual expenses may vary based on your specific business circumstances.
The following documents are needed for initial assessment of incorporation in South Korea：
Registry Certificate of the Parent Company
Business Registration or Business Permit of the Parent Company
Passport copy of the Parent Company’s Representative Director
List of Shareholders or General Members of the Parent Company
Our team has extensive knowledge and experience in the Korean market. We provide in-depth market analysis, consumer insights, and competitive intelligence to help you understand the market dynamics, identify opportunities, and make informed business decisions.
We provide ongoing support to help you sustain and grow your business in the Korean market. This includes a complete suite of back-office supports for corporate secretarial, accounting, tax, treasury, payroll and other general statutory requirements.
Yes, we have a strong network of key industry contacts, strategic partners, and local stakeholders in South Korea. Our network allows us to connect you with potential clients, distributors, suppliers, and other relevant entities to facilitate your entry into the market.
Absolutely. Our team is fluent in both English and Korean, ensuring effective communication between you and local stakeholders. We also provide cultural guidance and insights to help you navigate cultural differences and build strong relationships with Korean partners.
While the timeline for market expansion can fluctuate due to various elements, such as your business’s specific nature, the industry in which you operate, and prevailing market conditions, we typically see a duration of 4 to 8 weeks. We collaborate closely with you to establish a pragmatic timeline and key milestones, ensuring these are tailored to your unique objectives, making the process not just efficient, but also more appealing to your particular needs.
Yes, we provide guidance and support to ensure your business complies with relevant Korean laws and regulations. We help you navigate the legal landscape, obtain necessary permits or licenses, and address any compliance issues that may arise.