Doing business in Korea 2024
Korea holds a prominent position globally, particularly in the automotive, semiconductor, and shipbuilding industries.
- 100.21tkm
Territory
- 51.3M
Population
- 1,288 KRW
Currency1)
- 13
GDP ranking
- 5
Ease of doing business2)
- 1) 1 USD, December 31, 20232) Last available ranking from the World Bank
As of 2023, it ranks 13th in terms of GDP and 9th in trade volume. Additionally, Korea is recognized for its business-friendly environment, ranking 5th in the World Bank's ease of doing business.
Investors considering opportunities in Korea must carefully evaluate legal, tax, accounting, and human resources factors. This guide aims to assist by addressing these key issues. While it may not cover all topics exhaustively, it serves as a starting point and advises seeking professional advice for specific issues and compliance with relevant laws and regulations.
Forvis Mazars in Korea specializes in Audit, Tax, Outsourcing services across various sectors. By operating as One-Firm globally, we offer consistency in quality and integrated services to support business grow in Korea.
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