6. Issuance of each certificate

   * Certificate of Foreign Currency purchase or Certificate of Foreign Currency Deposit

   * Certificate of paid-in capital deposit (For the company registration) or the certificate of bank 
     balance <= Issuance from the judicial scrivener office

7. Procedure of company registration

   * Hereafter next procedures are applied the general company setup process.

     (Legal procedures are processed by the judicial scrivener office)

    * Basic Documents requirement.

    (Case 1) If the paid-in capital is more than KRW 1 Billion:

-       More than Three(3) Directors incl. Representative Director and more than one(1) auditor

-       More than four(4) subscribers of share (Promoter : 3, subscribers of share: 1)

(Case 2) If the paid-in capital is less than KRW 1 Billion

-       Possible to setup the company by one (1) member – 1 Director and 0 auditor.

(If one of the Directors is not a member of shareholder, the setup process is simpler due to
  the exceptions of notarization requirement.)

If companies want to be a promoter (shareholder) and the director who is non-resident, the required documents are as followings;

①     In case of the promoter is non-resident(or foreign entity),

-       Three(3) copies of notarized investment POA from Home country (included the delegation of notarization for the Articles of Incorporation(“AOI”) and Minutes)

If the foreigner is not stayed in Korea or can't attend the notarization office directly, he/she have to submit the Notarized POA which is stipulated on “ Mr. XXX will give the POA to Mr. XXX of Lawyer.

-       Proved documents which is contained the Representative Director and the address of Head office. (Ex. Certificate of Company registration, business registration certificate or similar notarization, etc.)

-       In case of Japan, Taiwan and etc., if possible to issue the official seal, he/she have to seal in the notarized POA both company and person and attach the certificate of official seal. – have to translate on the English or Korean.

②     If director and auditor is non-resident, it can be chosen one of followings;

1)     In case non-resident do not visit to Korea for the set-up,

-        Signed at the Letter of Acceptance and POA for notarization(Incl. Representative's sign) and then Certificate of signature notarized by lawyer or Embassy of home country, Copy of passport

-        Signed at the Letter of Acceptance with copy of passport which is notarized by lawyer.

-        Copy of passport

2)     In case non-resident visits to Korea for the set-up,

-        Signed at the Letter of Acceptance and POA which is notarized in the Korean lawyer or Home Country Embassy in Korea

-        Signed at the Letter of Acceptance with copy of passport which is notarized by lawyer.

-        Copy of passport

3)     Must be attached the certificate of Resident for Representative Director

-        In case the certificate of resident have in home country, just notarize it. (Japan, Taiwan, etc)

-        In case the certificate of resident do not have in home country, please notarize it in your home country. (It's impossible to certify in Korea)

-        In case of Japan, Taiwan and etc., if possible to issue the official seal and certificate of resident, he/she have to seal in the notarized POA both company and person and attach the certificate of official seal, Copy of ID card(Passport, ID Card, Driver's License) – have to translate on the English or Korean.

8. Completion of Company Registration (Ministry of Justice)

& Application of Business Registration Certificate (National Tax Service)

9. Application of Foreign Investment Company Certificate

   (Required Documents)

* Application of Foreign Investment Company Registration

   * “Certificate of Foreign Currency Deposits” for the Paid-in capital

   * Certificate of deposits for stock purchase (if necessary)

   * Business registration certificate

   * Registration of corporation certificate

10. Issuance of Foreign Investment Company Certificate => Start the business as a foreign investment company.

For your reference and Preview for investor

1.     Investment fund : How much company invest the amount whether it is more than KRW 100 million or more than KRW 1 billion

2.     Who is the investor?  Individual or Corporate

3.     Whether or not the Investor(Representative Director) will be visited in Korea

4.     Whether or not the foreign director is included?

5.     Whether or not the foreign director will be visited in Korea

6.     Whether or not Korean director will be elected and how to manage the schedule of FDI.