How to File a Cooperative Establishment Report — 5 Promoters, Inaugural General Meeting, Report Documents to the Mayor or Governor and the 20-Day Processing Period

Procedure

1. 1. Form the promoters and draft the name and articles of association

   5 or more persons qualified to be members become promoters, and a corporation may also be a member. The name must contain the word cooperative, and a name already registered by another cooperative in the same city or county cannot be used, so choose a distinguishable name reflecting the business field, business area and member composition. The articles of association must include the statutory items such as purpose, name and principal office, membership qualifications, amount and payment method of one contribution unit, handling of surplus, scope of business and officers, and the amount of one contribution unit must be uniform.

2. 2. Give notice of and resolve at the inaugural general meeting

   After giving at least 7 days' public notice of the date, time and place of the inaugural general meeting, membership qualifications and matters to be resolved, hold the meeting and resolve the articles of association, the business plan and budget, the election of officers and establishment expenses. A resolution requires the attendance of a majority of those who submitted a consent to establishment before the meeting opened and the approval of at least two-thirds of those present. Elect at least 3 directors including 1 chairperson and at least 1 auditor, and have the minutes signed or sealed by the chair and at least 3 persons elected at the meeting.

3. 3. File the establishment report with the Mayor or Governor

   Submit the establishment report (Form No. 2) to the Mayor or Governor with jurisdiction over the principal office, attaching a copy of the articles of association, the notice and a copy of the minutes of the inaugural general meeting, the list of officers, the business plan, the income and expenditure budget, the document on contribution units, and the list of promoters and persons consenting to establishment. The Mayor or Governor gives notice of acceptance within 20 days, and if no notice of acceptance or extension of the processing period is given within that period, the report is deemed accepted on the day after the period ends. A request for supplementation sets a period of up to 20 days, and if supplementation is not made within that period, the report may be returned.

4. 4. Hand over establishment affairs and pay contributions

   Upon receiving the report confirmation certificate, the promoters hand over the establishment affairs to the chairperson without delay, and the chairperson sets a date for persons wishing to become members to pay their contributions. A person making an in-kind contribution delivers the property and submits the documents needed to transfer the rights to the cooperative by the payment date. The number of contribution units held by one member may not exceed 30/100 of the total number of contribution units.

5. 5. Establishment registration and post-establishment change reports

   Within 14 days after the contributions are fully paid, the establishment must be registered at the location of the principal office with the chairperson as the applicant, and the cooperative comes into existence through this registration. After establishment, if the articles of association, principal office location, officers or chairperson's address change, file a change report with the Mayor or Governor, and an amendment to the articles of association takes effect only when reported. Changes in the total amount of paid-in contributions and the number of members are reported within 3 months after the end of the fiscal year.

Required documents

• Cooperative establishment report (Enforcement Rule of the Framework Act on Cooperatives, Form No. 2)
• Copy of the articles of association
• Public notice of the inaugural general meeting
• Copy of the minutes of the inaugural general meeting (signed or sealed by the chair and at least 3 persons elected from among those consenting to establishment)
• List of officers (Form No. 3)
• Business plan (Form No. 4)
• Income and expenditure budget (Form No. 5)
• Document stating the amount per contribution unit and the number of units each member intends to subscribe
• List of promoters and persons consenting to establishment (Form No. 6)

Fees

Preparing and submitting cooperative establishment report documents on your behalf starts from 900,000 won, and we advise after a consultation based on the number of members and the scope of drafting the articles of association and business plan. There is no government fee for the establishment report; establishment registration costs are separate.

See fees and official charges for this service →

Legal basis and review date

• Framework Act on Cooperatives, Article 2
• Framework Act on Cooperatives, Article 3
• Framework Act on Cooperatives, Article 4
• Framework Act on Cooperatives, Article 15
• Framework Act on Cooperatives, Article 15-2
• Framework Act on Cooperatives, Article 16
• Framework Act on Cooperatives, Article 18
• Framework Act on Cooperatives, Article 19
• Framework Act on Cooperatives, Article 22
• Framework Act on Cooperatives, Article 23
• Framework Act on Cooperatives, Article 34
• Framework Act on Cooperatives, Article 61
• Framework Act on Cooperatives, Article 85
• Framework Act on Cooperatives, Article 93
• Framework Act on Cooperatives, Article 98
• Enforcement Decree of the Framework Act on Cooperatives, Article 2
• Enforcement Decree of the Framework Act on Cooperatives, Article 6
• Enforcement Decree of the Framework Act on Cooperatives, Article 7
• Enforcement Decree of the Framework Act on Cooperatives, Article 8
• Enforcement Decree of the Framework Act on Cooperatives, Article 32
• Enforcement Rule of the Framework Act on Cooperatives, Article 5
• Enforcement Rule of the Framework Act on Cooperatives, Form No. 2

Checked against the statutes on 2026-10-16

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

• After receiving the report confirmation certificate, establishment registration must be made at the principal office location within 14 days from the day the contributions are fully paid, so set the contribution payment date and registration schedule as soon as you receive the certificate.
• If the contributions, officers or business details in the articles of association, business plan, income and expenditure budget and inaugural meeting minutes differ from one another, you will receive a supplementation request, so cross-check the figures and names in these four documents before submission.

Frequently asked questions