South Korea is a sovereign state in the southern part of the Korean Peninsula. Its neighbors are China to the west, Japan to the east, North Korea to the north, and the Korea Strait to the south. South Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies. It is a high-income developed country, with a developed market, and is a member of Organisation for Economic Cooperation and Development (“OECD”).
South Korea is one of the Asian Tigers, and is the only developed country so far to have been included in the group of Next Eleven countries. South Korea had one of the world’s fastest growing economies from the early 1960s to the late 1990s, and South Korea is still one of the fastest growing developed countries in the 2000s, along with Hong Kong, Singapore, and Taiwan, the other three members of Asian Tigers.
Standard Requirement for South Korea Limited Company
|Proposed company name||Korean|
|Standard authorised share capital||KRW$100 million at KRW$1 each|
|Minimum share capital||KRW$100 million|
|Minimum shareholder||1 Natural person or legal entity|
|Minimum director||1 Natural person or legal entity|
|Time required||20 -25 Working days|
Advantages of South Korea Limted Company
- No restriction on the nationality of director
- Member of OECD
- Stable financial system
- South Korea is the world’s 8th-easiest place to do business
- Wide international market communication
- South Korea is positively ranked as the world’s 31st-freest economy