What grants or incentives are available to investors?
Foreign invested domestic companies investing in certain high technology industries stipulated in
the Special Tax Treatment Act or doing business in certain industrial complexes designated by the
Foreign Investment Promotion Act enjoy certain tax exemptions or concessions including the
corporate income tax, the personal income tax, customs duty, value added tax, acquisition taxes and
property taxes for a certain period and may receive a cash grant and site location support.
What are the most common forms of business vehicle used in your jurisdiction?
Under the Commercial Code, the main business vehicles in South Korea are:
Partnership company (hapmyeong hoesa).
Limited partnership company (hapja johap).
Limited liability company (yuhan chaegim hoesa).
Stock company (jusik hoesa).
Limited company (yuhan hoesa).
An investment trust is also available under the Capital Market and Financial Investment Business
Act.
The most common form of business vehicle used by foreign companies is a stock company (jusik
hoesa). A limited liability company (yuhan hoesa) is also commonly used by foreign companies due
to:
Lower regulatory standards (as effective from 1 November 2019, limited liability
companies in Korea are also subject to the external audit requirements of the Act on
External Audit of Stock Companies).
Simple incorporation procedure and corporate governance structure
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