Experts Corner: Ask Simon Hong How to Set Up a Company in Korea

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Simon Hong
Seoul Global Business Support Center
Director (Seoul, Korea)

Simon Hong is Director of the Seoul Global Business Support Center and nobody knows more than Simon about how foreigners can set up a business in Korea.

If you are a foreigner wishing to develop a business in Seoul and are searching for help in developing that idea, the Seoul Global Business Support Center in COEX is definitely the first place you should visit.

To help foreign entrepreneurs seeking to realize their business dreams and business expansion in Seoul, Simon's center is dedicated to providing not only step-by-step coaching and consulting programs but also to providing professional and timely business information in English, Chinese, and Japanese. As a public agency, the center offers all its services free of charge and works to support business success by foreigners in Seoul.

The Seoul Global Business Support Center has been supporting foreign entrepreneurs in many fields of business, including e-commerce, consulting, software development, trading, wholesale/retail and others. Foreign business successe stories include Mr. Jang Jinkai, who runs a popular Chinese community online site; Mr. Wang Yan in Internet e-commerce; Mr. Roger Shepherd, who manages a Korea mountain climbing business; Mr. Matthew Sleight, with his consulting business; and Mr. Robert Chadwick, CEO of Nanostar, a green technology product business in Seoul.

Ask Simon your questions here... and then be sure to visit him at the Center at one of the informative seminars and training sessions offered at the center.

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Permalink Reply by Dario Silvestri on January 31, 2012 at 9:52am

Dear Mr. Hong,

Thank you for your reply. So just to be clear, I, as an expat holding an F2 visa, can register and act as a director of the company and foreigners can hold shares in the company even if they only hold E2 visas. I will send an email to the above address with some more questions and information about our idea if it's not too much trouble. Also, if you know of any legal council and government offices in the Daegu area that can be helpful, I would appreciate any recommendations.

Thank you again,

Dario Silvestri

Permalink Reply by simonhong on January 31, 2012 at 3:33pm

Dear Dario Silvestri,

 

Please look for the relevant local district or tax office where your corporation will be addressed.

The address decides which district or tax office will handle your incorporation case.

Best Regards,

 

Simon Hong

 

Permalink Reply by Dario Silvestri on February 10, 2012 at 4:53pm

Hello Mr. Hong,

I tried sending you an email to the above address, but I haven't received a reply so I wasn't sure if I had sent it to the correct address. I also made a visit to the district tax office for my area here in Daegu only to find that there was no one available to provide any information in English, nor could anyone provide much assistance in Korean for my wife. Do you know of any contacts in the Daegu area that might be of assistance?

Sincerely,

Dario SIlvestri

Permalink Reply by Simon Hoggett on February 10, 2012 at 5:28pm

Hi Dario, 


Send me a message on Monday (for reminder) and I will get somebody from a Daegu gov't office to help you.

Just tell me exactly what information you are looking for so I can find you the proper contact person. 

Cheers,

Simon

Permalink Reply by Dario Silvestri on February 13, 2012 at 3:50pm

Hello again,

What I am looking to do is start a small corporation to build capital for a couple small projects we want to start up. The corporation will have 4 shareholders to start, 2 of which hold 'F' visas, 2 that do not. Once we have this, we want to open our first business (small bar) through the corporation. I haven't really got a clear answer whether this is possible or not. Again, any feedback would be appreciated.

Seems we know some of the same people (expats) in Daegu. Your name has come up on a couple of occasions.

Dario

Permalink Reply by Doug Huffer on February 2, 2012 at 3:03pm

Mr. Hong -

Are you at all familiar with the agricultural industry?  I am particularly interested in regulations concerning milk and cheese production, as well as a packaging requirements. 

Sincerely,

Doug Huffer

Permalink Reply by simonhong on February 3, 2012 at 5:39pm

Dear Doug Huffer,

 

Are you planning to produce milk and cheese products in Korea or import from oversea?

When you import those products, the products should have the K-FDA approval and relevant labels.

I can arrange a meeting with customs specialists. Have a geat weekend!

 

Simon Hong

 

Permalink Reply by Doug Huffer on February 3, 2012 at 6:10pm

Mr. Hong -

Thank you for your reply.  I plan on producing domestically.  However, I will need to import some equipment and other materials that may need a customs specialist. 

Doug Huffer

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