Business accounts: South Korea
An honest assessment before work starts, the quote is fixed in writing.
South Korea is one of Asia's largest economies, strong in manufacturing, electronics, gaming and content production. Banks are supervised by the Financial Services Commission and the Financial Supervisory Service, and the currency is the won. A business account here is opened for a Korean company or a branch of a foreign company, and foreign investment is made under the Foreign Investment Promotion Act through an authorised foreign exchange bank.
A foreign-invested company
| Question | How it works |
|---|---|
| Form | most often a stock company, less often a limited liability company |
| Foreign-invested company status | an investment of at least 100 million won, ~$74,500, and at least 10% of the capital from each foreign investor |
| What the status gives | investment protection, the right to remit profits and a basis for an investor visa |
| Where it is registered | an investment report at a foreign exchange bank or the investment promotion agency, then the court company registry and the tax office |
Dollar amounts are converted at the European Central Bank rate of 5 October 2026, about 1,344 won per dollar, and rounded up.
We will calculate online the cost of opening an account for your company and maintaining it for a year.
How registration and account opening work
- A foreign investment report at an authorised foreign exchange bank.
- Opening a temporary account and transferring capital from abroad; the bank issues a capital deposit certificate.
- Registering the company in the court registry and obtaining a business registration certificate from the tax office.
- Registering as a foreign-invested company, after which the temporary account becomes the company's ordinary account.
- Setting up online banking, signing certificates and corporate cards.
The whole process usually takes three to six weeks if the foreign founder's documents are ready in advance.
What the bank will check
- The foreign founder's documents with apostille and Korean translation.
- A passport and, if the representative lives in Korea, an alien registration card.
- The company and business registration certificates, articles and company seal.
- Business description, contracts, payment countries and currencies, source of capital.
- Owners' tax residence: Korean banks share information under international agreements.
Company taxes from 2026
| Taxable profit | Rate |
|---|---|
| up to 200 million won | 10% |
| 200 million to 20 billion won | 20% |
| 20 to 300 billion won | 22% |
| above 300 billion won | 25% |
From 2026 each rate rose by one percentage point. Value added tax is 10%.
Office, visa and staff
- Business registration with the tax office requires an office address with a lease, so we find premises before filing.
- Foreign-invested company status provides a basis for an investor visa, with which the owner can live in Korea and run the company.
- Foreign employees need work visas, and their number depends on the company's Korean headcount.
Who gets refused
The bank will refuse or delay opening if the founder's documents are not legalised or are mistranslated, if the capital did not arrive through a foreign exchange bank with an investment report, if the source of money cannot be proven, or if the company, its owners or counterparties are linked to sanctions. We check whether the bank works with Russian citizens before preparing documents.
What we do
Murblz specialists prepare and legalise the founder's documents, file the foreign investment report, arrange the capital transfer, company and business registration, account opening and online banking. If an investor visa is needed, we link it to the registration. The cost depends on the structure and the bank; a manager will calculate it in the chat. We fix the estimate in writing; the decision to open an account always rests with the bank.
What we do
- Corporate account - opening assistance
See also
Company formation · Personal account · Investment property · Country taxes · All country programs
FAQ
Can a foreigner open an account for a Korean company?
How much capital does a foreigner need in Korea?
How long do registration and the account take?
What is the corporate tax in Korea in 2026?
Do I need to travel to Korea?
Is an office in Korea needed for registration?
How much does it cost to open a company account with your help?
Want to open a company account in South Korea?
We assess which Korean banks will open an account for your company given its foreign investment registration, prepare the documents and guide the opening. The catalogue covers every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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