Doing Business
in Korea

Before beginning a business relationship, signing a contract, or investing in a company, it is necessary to know who you are dealing with.  Frauds, counterfeit businesses, and deceptive claims are more prevalent than ever in the modern world. Most individuals have ended up losing money or getting into legal problems due to the fact that they had trusted a company without checking its credentials. That is why a background check of the company is necessary before making an inve

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