Overall Incorporation Process in Korea
Overall Incorporation Process in Korea a. In Korea, obtaining permissions (including license, registration, report de-facto approval by the governmental authorities), if required by the specific regulations governing the industry, is not a post-incorporation process unlike some of foreign jurisdictions; but is a part of the incorporation process of a foreign invested company as below time table (as step 3, if applicable). Therefore, legal research/advice by a law firm ( nhylaw.co.kr )might be necessary depending on its prospective business activities in advance of commencing incorporation process. For your reference, failing on proper legal research may cause an immense consequences as the case of an example of Uber which business was concluded to be illegal in accordance with [Passenger Transport Service Act] in Korea. Step 1 Step 2 (Step 3, If Applicable) Step 3 (or 4) Step 4 (or 5) Foreign Investment Report under FIPL &