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Administrative Checklist for Starting a Business in Korea


To start a business in Korea, you will need to complete several administrative tasks and follow the necessary legal procedures. Here are the key steps involved in opening a business in Korea:

  • Determine the Business Type
    Decide on the type of business entity you want to establish. The options include a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each has its own requirements and implications, so consult with a legal professional to choose the most suitable structure for your business.

  • Register the Business Name
    Choose a unique name for your business and check its availability with the Korean Intellectual Property Office. Once confirmed, register the business name at the local ward office (Gu office).

  • Obtain a Business Registration Certificate
    Apply for a Business Registration Certificate from the local ward office. You will need to submit an application form, identification documents, and proof of address. Additionally, foreign nationals may require an Alien Registration Card or a visa.

  • Register with the Tax Office
    Visit the local tax office to register for taxes. This includes obtaining a tax identification number (TIN) and registering for value-added tax (VAT) if applicable. The tax office will provide guidelines and information on tax obligations.

  • Open a Business Bank Account
    Open a business bank account with a Korean bank. Prepare the required documents such as your Business Registration Certificate, identification documents, and proof of address.

  • Obtain Necessary Permits and Licenses
    Depending on your business activities, you may need specific permits or licenses. Some industries may require additional certifications or approvals from relevant government agencies. Research your specific industry and consult with the appropriate authorities to ensure compliance.

  • Register with Social Insurance and Labor Authorities
    If you plan to hire employees, you will need to register with the National Pension Service, the National Health Insurance Corporation, and the Employment Insurance Agency. This ensures compliance with social insurance and labor regulations.

  • Comply with Occupational Safety and Health Requirements
    Familiarize yourself with the relevant occupational safety and health regulations applicable to your industry. Implement necessary safety measures to ensure a safe working environment.

  • Consider Intellectual Property Protection
    If your business involves intellectual property, such as patents, trademarks, or copyrights, consult with the Korean Intellectual Property Office to understand the registration process and protect your intellectual assets.

  • Familiarize Yourself with Labor Laws
    Understand Korean labor laws, including employment contracts, working hours, wages, and employee benefits. Compliance with labor regulations is crucial to maintaining a healthy working environment and avoiding legal issues.

If it's your first time, it's advisable to consult with a professional, such as a judicial scrivener (bub-moo-sa/법무사) for creating a company, a lawyer (byun-ho-sa/변호사) to get situated with any legal information, an HR consultant (no-moo-sa/노무사) for complying with labor issues, a tax accountant (sae-moo-sa/세무사) for tax-related information, and a patent attorney (byuh-lee-sah/변리사) for your IP needs.

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