Business in South Korea: Entering the Korean Market

Our services

Save your business tens of thousands of dollars
when entering the Korean market

Save your business tens of thousands of dollars
when entering the Korean market

Learn more about our services Learn more about our services

Market research

You will learn how to effectively develop and promote your business within your niche in the South Korean market. Gain structured information about the competitive landscape, target audience analysis, and key industry indicators. Understand the regulatory, market, and cultural context in which your business will operate.

Market research

Business plan & strategies

Receive a thoroughly developed business plan for entering the South Korean market — tailored to economic realities, cultural specifics, your goals, and available resources. The document will include all key sections: from market environment analysis to financial modeling, marketing strategy, and risk assessment.

Business plan & strategies

Business setup consultation

We will develop personalized recommendations for your business entry into the Korean market — taking into account your industry, goals, and resources. We’ll help you gain a deeper understanding of your target audience, assess the competitive landscape, and explore the key aspects of launching and adapting within the Korean business environment.

Business setup consultation

Positioning strategies

We will prepare a detailed profile of your target audience, analyzing their behavior, motivations, and preferences. We’ll show you how to leverage these insights to boost sales and increase engagement. In addition, you’ll receive an overview of key market trends and a positioning strategy tailored to local realities — ensuring sustainable growth and an effective market entry.

Positioning strategies

General information

Population
51 181 299 people
Official language
Korean
Main religion
Buddhism, Confucianism
Currency
South Korean won (KRW)
Time zone
UTC+9

Economy of South Korea

GDP per capita
42 784 USD
Economic growth
2,8%
Unemployment
3,7%
Inflation
2,0%
Investment inflow
17,7 billion USD

Business in South Korea

Popular type of legal entity
Limited liability company (LLC)
Minimum number of shareholders
1
Company registration period
1 week
Minimum share capital
70 000 USD
Restrictions for foreigners on starting a business
No
A local director is required?
No
Corporate tax
25%
VAT
10%

Advantages and disadvantages

Advantages
one of the largest consumer markets in Asia, openness to international business, a reliable legal and financial system, a favorable business environment in innovative industries, and a strategic location
Disadvantages
language and cultural barriers, high competition and consumer conservatism, high business costs, strict regulations and certification requirements, and high expectations for service and quality