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

Source: Doing Business - Latest available data.