Setting up a foreign-invested company follows a 7-step procedure under the Foreign Investment Promotion Act. Takes about two weeks.

📋 7-Step Procedure

Step 1: FDI Notification

File at KOTRA or foreign exchange bank. Documents: nationality certificate, shareholders list, power of attorney. Apostille required for foreign documents.

Step 2: Remit Funds

Through foreign exchange bank or hand-carry via customs.

Step 3: Incorporation Registration

Court registry office. 2–3 days.

Step 4: Permits

Industry-specific if required.

Step 5: Business Registration

Tax office. 4–5 days.

Step 6: Corporate Bank Account

Korean bank. 1 day.

Step 7: FIC Registration

Delegated agency. Immediate.

🛂 After Incorporation

Apply for D-8 visa at immigration.

📊 External Audit Thresholds

🔗 Resources

• Court Registry
• Invest Korea
• NTS: 126

Source: KOTRA Business in Korea 2025