If the representative intends to enter Korea under a D-8 (Corporate Investment) visa status, the establishment of a corporation through a foreign direct investment structure is a prerequisite, and in practice an investment amount of at least KRW 100,000,000 (approximately USD 75,000–80,000) is generally required to be remitted and deposited during the incorporation process in accordance with foreign investment reporting procedures. The visa application process will take place after the incorporation process.  If no visa is required, select ‘Incorporation Without Entering Korea’ to continue the incorporation process. 

A corporation may be established without the representative entering Korea. While there is no statutory minimum capital requirement under Korean Commercial Law, in practice a capital amount of approximately KRW 10,000,000 (approximately USD 7,500–8,000)  is commonly used. A Korean national may be appointed as the representative director, and the foreign founder may operate the business in the capacity of a shareholder by holding equity and exercising voting rights.