Starting a business in South Korea
Legal Forms of Companies
- Yuhan Hoesa: Private Limited Company
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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
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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
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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
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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
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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
Setting Up a Company |
South Korea |
OECD |
Procedures (number) |
3.0 |
5.2 |
Time (days) |
8.0 |
9.5 |
Source: Doing Business - Latest available data.
- The Competent Organisation
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The Supreme Court
- For Further Information
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Doing Business: South Korea, to learn about procedures to start a business in South Korea
Korea Business Central
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Latest Update: March 2023