Doing Business in Korea 2022

Korea is an exciting country with a strong global presence in several industries such as automotive, semiconductors, and shipbuilding. It ranks as the 10th largest GDP in the world for 2020. Its trade volume is also the 8th largest in the world, based on 2020 data. At the same time, doing business in Korea is relatively simple: it ranks as the 5th in the World Bank measure of ease of doing business.

Still, any investor in Korea should carefully consider its set-up in this country and review the legal, tax, accounting, human resources, and other relevant matters for a successful entry into the Korean market. This guide has been prepared for the assistance of those investors interested in doing business in Korea.

It does not exhaustively cover the subjects it treats, but it is intended to answer some of the most important questions they may have. When specific issues arise in practice, it will often be necessary

to consider the relevant laws and regulations and obtain appropriate professional advice.

Mazars in Korea specialises in audit, accounting, and advisory services across an extensive range of markets and sectors. We support companies doing business in Korea. I hope this guide will help you with your business in Korea.