How to Report a Foreign Company's Liaison Office or Branch in Korea — Foreign Exchange Bank Report and Branch Registration Within 3 Weeks

Procedure

1. 1. Choose between a branch and a liaison office

   If you want to sign contracts and generate sales in Korea, report a branch; if you only need liaison work, market research or research and development for the head office, report a liaison office. A liaison office cannot carry out profit-generating business, so define the work you will do in Korea in concrete terms first.

2. 2. Designate a foreign exchange bank and file the establishment report

   A foreign company that wants to set up and operate a domestic branch designates one foreign exchange bank as its transaction bank and submits the report on the establishment of a domestic branch of a foreign company to the head of that bank. A domestic branch that will handle finance-related business, securities or insurance-related business, or business not permitted under other laws reports to the Minister of Economy and Finance instead.

3. 3. Bring in operating funds

   When a branch brings in operating funds from its head office, it does so through the designated foreign exchange bank. A branch or office located in Korea is treated as a resident under the Foreign Exchange Transactions Act, and the designated transaction bank also handles follow-up management after the report.

4. 4. Branch registration and tax office report

   A branch registers its purpose, trade name, Korean representative and other matters at the location of its business office within 3 weeks of establishment, and it cannot transact business on a continuing basis before registration. A branch files a domestic place of business report with the tax office within 2 months of having a domestic place of business, and a liaison office, which does not receive a business registration number, receives a unique tax identification number.

5. 5. Changes, closure and remittance of net profit

   If the reported details change, submit a report on changes to the domestic branch of a foreign company to the body that accepted the establishment report. To send a branch's year-end net profit to the head office, apply for remittance to the designated foreign exchange bank with the balance sheet, income statement and tax payment certificate, and submit a closure report when closing the branch.

Required documents

• Report on the establishment of a domestic branch of a foreign company (Form No. 9-8 of the Regulations on Foreign Exchange Transactions)
• Documents proving the name, location and main business of the foreign head office (with translations attached)
• Statement of the nature and scope of the business to be conducted in Korea
• Copy of documents proving any permit required for establishment under other laws
• Domestic place of business report and statement of financial position as of the date of having a domestic place of business (branch, submitted to the tax office)
• Report on changes to the domestic branch of a foreign company (Form No. 9-9) and documents proving the change (when changing)
• Letter of authorization (when submitted by an agent)

Fees

Generally in the range of several hundred thousand won to several million won in the industry. We will give you a quote after consultation, depending on whether you set up a branch or a liaison office, how ready the head office documents are, and whether change or closure reports are included. Government fees are separate.

See fees and official charges for this service →

Legal basis and review date

• Foreign Exchange Transactions Act, Article 3
• Foreign Exchange Transactions Act, Article 18
• Foreign Exchange Transactions Act, Article 32
• Regulations on Foreign Exchange Transactions, Article 9-1
• Regulations on Foreign Exchange Transactions, Article 9-32
• Regulations on Foreign Exchange Transactions, Article 9-33
• Regulations on Foreign Exchange Transactions, Article 9-34
• Regulations on Foreign Exchange Transactions, Article 9-35
• Regulations on Foreign Exchange Transactions, Article 9-37
• Regulations on Foreign Exchange Transactions, Article 10-11
• Commercial Act, Article 614
• Commercial Act, Article 616
• Corporate Tax Act, Article 94
• Corporate Tax Act, Article 109
• Enforcement Decree of the Corporate Tax Act, Article 154
• Foreign Investment Promotion Act, Article 2

Checked against the statutes on 2026-10-06

Statutes and public notices change, so each case needs to be checked individually. Statute titles are given in English for reference. The Korean statutes are the authoritative text.

Check these first

• Carrying out a capital transaction without a report or with a false report is subject to an administrative fine of up to 100,000,000 won under the Foreign Exchange Transactions Act.
• A branch cannot transact business on a continuing basis before completing registration of its business office, and anyone who transacts before registration is jointly liable with the company.

Frequently asked questions