How to Start Your Own Business in Korea

Being an international entrepreneur in Korea is not easy. Neither is the process of obtaining the proper business license required for such endeavors as starting one’s own business in Korea. There are few steps that one must take in order to secure a business license.
First off, there are only two types of visas that can be used to apply for a business license: one is the F-6, which is a marriage visa, and the other is the D-8, which is an investment visa or start-up visa. I will not cover the D-8 in this article. Instead, I will focus on the F-6 process.
For those holding an F-6 visa, it is a relatively straight-forward process to get a personal business license. Just follow these few steps.
1. Choose what type of business you want to run.
2. Find the desired location for your business.
3. Call to the district office where you want to open your business.
4. Gather the required paperwork as specified by the district office.
5. Arrange for an inspection of the prospective building for your business by the district office.
6. Sign the building contract.
7. Submit additional required documents.
8. Obtain a registration certificate.
9. Visit the district tax office where your shop is located, bringing with you your ARC (Alien Registration Card), Registration certificate and building contract.
10. Complete the tax form and submit it along with other required documents.
11. Receive your business license!

Remember that when you apply for your business license, the documents needed and the procedures you go through will be based on what type of business you want to open. Some pitfalls may await you, depending on the kind of business. For example, some businesses may require that your building space be of certain sizes and dimensions. Many business licenses may require that you have a dedicated space.
Utilizing a residential building, such as your apartment, may not be permitted. I do not recommend starting a restaurant out of your house, but even technology-driven businesses are held to this requirement, so, no computer companies in your garage. Other business licenses might require some evidence of expertise, such as a degree or certification in a particular field. That is not to mention the obvious considerations. A restaurant will be open to inspection and be required to follow health codes, for example. More information will be available in the next article.