Korean Commerical Law (Corporate Entities)

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1

Jusik Hoesa (StockCompany)

Jusik Hoesa is the only form of corporate entity that is allowed to publicly issue shares. The vast majority of corporations in Korea chose the Jusik Hoesa corporate form. It is also the most common corporate form that foreign companies chose for their subsidiaries.

2

Yuhan Hoesa (Limited Liability Company)

Yunhan Hoesa is a closely held company that is prohibited from having more than 50 shareholders. In recent years a few foreign companies have chosen the Yuhan Hoesa, however, most foreign companies are advised and will form a Jusik Haesa. A few companies, recently, have chosen this form because of possible U.S. tax benefits.

3

Hapja Hoesa (Limited Partnership)

In a Hapja Hoesa one or more partners may have unlimited liability and one or more partners may maintain limited liability. The entity, as all incorporated entities, is responsible for corporate taxes.

4

Hapmyeong Hoesa (Partnership)

In a Hapmyeong Hoesa two or more partners form the partnership. The partners must maintain unlimited liability. The entity, as all incorporated entities, is responsible for corporate taxes.For more details on the requirements for forming a company please take a look at the Korean Commercial Code and information available at http://www.ahnse.blogspot.com

Additional Resources

www.ahnse.blogspot.com

Korean Law Blog

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