South Korea flag South Korea: Operating a Business in South Korea

Starting a business in South Korea

Legal Forms of Companies

Yuhan Hoesa: Private Limited Company
Number of partners: Minimum one, maximum fifty partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is limited to the amount contributed.
Jusik Hoesa: Public Limited Company
Number of partners: One or more partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is limited to the amount contributed.
Hapja Hoeasa: Limited Partnership
Number of partners: Two or more partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability of active partners is unlimited. Liability of sleeping partners is limited to the amount contributed when they do not take part in the company management.
Hapmyong Hoesa: General Partnership
Number of partners: Two or more partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.
Yuhan Chegim Hoesa: Limited Liability Company
Number of partners: One or more partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Each member’s liability limited to the amount of contributed capital

Business Setup Procedures

Setting Up a Company South Korea OECD
Procedures (number) 3.0 5.2
Time (days) 8.0 9.5

Source: Doing Business - Latest available data.

 
The Competent Organisation
The Supreme Court
For Further Information
Doing Business: South Korea, to learn about procedures to start a business in South Korea
Korea Business Central

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Latest Update: September 2022