Doing Business
in Korea

Here’s a look at Korea’s major economic indicators that provide an overview of the country’s recent economic developments. ※ Source: International Monetary Fund (IMF), Bank of Korea (BOK), Korea International Trade Association (KITA), Ministry of Trade, Industry and Energy (MOTIE) October Economic Trends The economy added 707,000 jobs year-on-year in September 2022 and the unemployment rate fell by 0.3 percentage points from a year ago to 2.4 percent. The growth of consumer p

All Industries In July 2022, Korea’s mining and manufacturing industries and facilities investment were adjusted after growing for two...

Fair Agency Transactions Act [summary] (1) The Fair Trade Commission shall establish reasonable trade standards for each industry and...

Industry Korea ranks No. 4 in global EV sales, doubled from 2019 S. Korea’s electric vehicle exports last year more than doubled from the...

Q. Can a foreigner acquire real estate in Korea and engage in real estate lease business? A. A foreigner intending to engage in real...

S. Korea attracts USD 1.15 bn investment in chip, battery from seven NA firms Seven North American companies in the fields of chips,...

Article 165-20 of the Financial Investment Services and Capital Markets Act (“FSCMA”), which stipulates the provisions regarding the...

S. Korea unveils sweeping tax cut plan to spur corporate investment S. Korea plans to cut corporate and income taxes in a bid to...

All industries Despite the decrease in service industries, the production of all industries increased in June 2022, driven by mining &...

Q. Is the acquisition of stocks for the purpose of capital gains, not participation in management, regarded as foreign investment? A....

Korea to expand tax benefits for global M&As in chip, vaccines and battery sectors S. Korea is seeking to expand tax benefits to facilitate domestic M&As of foreign entities in the areas of semiconductors, vaccines, and batteries dubbed national strategic assets amid the intensifying global race and prolonged supply chain disruptions. Under the tax reform plan from the new government pending legislative review and approval, the government proposes to grant up to 10 percent ta

All industries The production of all industries increased in May 2022, driven by dramatic increases in the mining & manufacturing...

Q. Where personal information can be used out of purpose or provided to a third party in accordance with the Personal Information...

FDI in free economic zones soars 164 pct in H1: data Foreign direct investment (FDI) pledged to S. Korea's free economic zones (FEZs)...

Delivery Nation When a recent survey carried out by a broadcaster asked non-Koreans to rank their favorite things about Korea, delivery...

Invest KOREA provides a one-stop investment support service for foreign investors. We work with investors who are seeking to invest in...

Answer : In accordance with an amendment to the Foreign Investment Promotion Act which was promulgated on February 4, 2020 and entered...

Enforcement Decree of the Financial Investment Services and Capital Markets Act [Enforced Mar. 10, 2022] [Partially amended Decree no....

Overseas direct investment more than doubles in Q1 amid post-pandemic recovery South Korea's overseas direct investment more than doubled...

The incoming government of President-elect Yoon Suk-yeol plans to spend KRW 3 trillion (USD 2.37 billion) for five years from next year...