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Reach out to our dedicated team at Pearson & Partners Korea, and let us guide you towards the path of limitless opportunities and educational excellence in Korea.
Our locations
Seoul
WeWork Tower, 427 Teheran Road, Gangnam, Seoul, South Korea 06159
San Francisco
355 Lombard St
New York City
67 Wall St
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Frequently asked questions
Here are the most asked questions about doing business in Korea.
What is the difference between Stock Company and Limited Liability Company in Korea?
There are five different forms of companies in Korea: General(unlimited) Partnership Company, Limited
Partnership Company, Private Limited Company, Limited Liability Company (LLC, Yuhan Hoesa), and Joint Stock
Company (JSC, Jusik Hoesa).
• Unlimited or limited partnership companies are rarely used in Korea.
• Foreign investors generally use the Joint Stock Company. JSC may issue preferred shares, bonds and debentures. There is no limit to the number of shareholders.
• However, use of Limited Liability Company (Yuhan Hoesa) by foreign investors has increased recently for its less strict obligation to disclose financial statements and stockholder’s list.
What is a Free Economic Zone (FEZ) in Korea?
There are a total of eight Free Economic Zones in Korea. Most of them are waiting to be officially launched in 2020. Companies with business in FEZs are eligible for tax credits under the Foreign Investment Promotion Act. Each zone has strengths in different types of industries. The following is the list of FEZs in Korea.
FEZ / Area / Prospective population
• 1: Incheon Free Economic Zone (IFEZ) / 123.9km2 / 536,000
• 2: East coast Free Economic Zone (EFEZ) / 8.95km2 / 13,000
• 3: Yellow Sea Free Economic Zone (YESFEZ) / 4.39km2 / 34,000
• 4: Chungbuk Free Economic Zone (CBFEZ) / 7.21km2 / 50,000
• 5: Saemanguem-Gunsan Free Economic Zone (SGFEZ) / 28.4km2 / 31,600
• 6: Daegu-Gyeongbuk Free Economic Zone (DGFEZ) / 18.93km2 / 76,000
Source: FEZ Planning Office (http://www.fez.go.kr)