Market Insights - KOISRA UP

Yuhan Chaekim Hoesa (유한책임회사): Limited Liability Company

Yuhan Chaekim Hoesa (유한책임회사) is a newer form (introduced in 2012 via Commercial Code amendments) modelled after U.S.-style LLCs.

Yuhan Hoesa (유한회사) is akin to a private limited company or closely-held LLC (though distinct from the newer “LLC” concept introduced in 2012)

Chusik Hoesa (주식회사) is the most widely used corporate form in South Korea for both domestic and foreign businesses

South Korea offers a well‑defined menu of legal vehicles for doing business, ranging from classic corporations to simple representative offices

Expanding into Korea? Decide between using an Employer of Record (EOR) or setting up a local entity. Which is more cost-effective?

Benefit Guide for Foreigners 2024 by the Korean National Tax Service, offering tax information and updates for foreign residents in Korea.