Doing Business
in Korea

The South Korean regulatory landscape is known for its strict guidelines and no tolerance for compliance lapses. Still, many foreign companies believe that going by global or Western norms of  compliance is enough to operate in the nation. This belief can lead to a range of mistakes, resulting in heavy fines, business  interruption, and loss of reputation. This blog delves into the most common and critical corporate compliance mistakes in South Korea that international compan

Opening a new business in South Korea can open a window to quite dynamic market.  The country has a vibrant economy, the most advanced technology, and a strong governmental policy on innovation, which makes it an attractive business destination to international entrepreneurs.  However, the most important aspect of a successful and compliant launch is going through the painstaking legal and regulatory system of the country. This guide will walk you through the legal necessitie

In South Korea, the type of business entity that you choose is one of the most important decisions you’ll make. For foreign investors, this decision must also align with the requirements of the  Foreign Investment Promotion Act (FIPA). This basic decision determines not only your personal liability and tax liability but also how much capital you can raise and how much administrative work you will have.  To entrepreneurs who want to have a presence in this dynamic economy, it

Keeping up with taxes seems an ongoing responsibility that never goes off duty.  Any accountant or business can relate to this as the taxation process involves monthly filing, quarterly reports, and a year-end closing scramble. In fact, it may seem like a 24/7 task, especially in South Korea, where tax duties have distinct, recurring peaks throughout the korean-tax-seasons-your-year-round-compliance-calendaryear.  The fact is that although the tax tasks are year-long, their i

On July 31, 2025, South Korea’s Ministry of Economy and Finance issued a tax reform proposal. While it is still awaiting approval from the National Assembly, companies—particularly foreign entities—should start preparing for the likely new regulations.  It helps them lower immediate tax risks as well as gives them a window to adjust operations before the new changes take effect.  The scope of these reforms is broad and includes changes to the corporate income tax and complian